Sibur re-loads railway tanks

Rail Garant has not succeeded in its search of 11.5 billion rubles for the purchase of 4,300 railway tanks for liquefied hydrocarbon gas from Sibur-Trans. The period of exclusive negotiations has expired, and a new competitor has appeared for the asset represented by SG-Trans. It was told to Kommersant by several market sources that SG-Trans held by AFK Systema and Unirail Holdings on a parity basis can purchase the 4,300 railway tanks from Sibur-Trans controlled by Sibur. They reported in the end of 2013 that Rail Garant won the tender for the purchase of these railway tanks. However Rail Garant failed to close the transaction before May 31st and lost the exclusive right for the railway tanks buyout, a source close to the negotiations claims. SG-Trans made active offer for buying out of the fleet.

The transaction clauses remain as they were, and Sibur is ready to analyze the sale to a new buyer only at the analogical terms or better, a source of Kommersant claims. Another source of Kommersant confirms that and adds that Sibur does not have then aim to sell a part of Sibur-Trans fleet by any means. The holding can remain the owner of the railway tanks. Neither Sibur nor SG-Trans gave any comments about the point. Rail Garant confirms that it has not closed the transaction with Sibur-Trans explaining that by the continuing negotiations with the banks about the granting of the credit. However it hopes to close the purchase before the end of July. A source of Kommersant claims that SG-Trans won’t intervene to the plans of Rail Garant and will wait until that date