One of the world’s largest transport companies sold an asset in Russia for 1 euro
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One of the world’s largest transport and logistics companies, the French CMA CGM sold 50% of the Logoper operator to a former top manager Russian Railways Alexander Kakhidze for 1 euro. About it informed RBC with reference to data from the Unified State Register of Legal Entities. This information was confirmed by Kakhidze himself.
As a result, the former top manager of Russian Railways consolidated 100% of the operator. Prior to that, he already owned 50% of the asset. The deal was closed on April 12.
It is clarified that the deal provides for a buyback option. According to Mikhail Burmistrov, General Director of Infoline-Analytics, 1 euro is a fee for the opportunity to quickly exit the Russian asset. He added that other options in this deal are not even visible.
CMA CGM Group is the third largest container shipping company in the world. According to Alphaliner, the company’s fleet in total can accommodate more than 3.4 million containers. At the end of 2022, CMA CGM’s revenue was $74.5 billion, and net profit was $24.9 billion. The company is owned by the family of Lebanese-born shipping tycoon Jacques Saade, and his son, Rodolphe Saade, is the CEO and chairman of the board of directors. The 200 largest billionaires in the world according to Forbes with a fortune of $ 9.8 billion.
The company acquired 50% of Logoper in 2018. In December 2017, CMA CGM CEO Rodolphe Saade wrote a letter to Russian President Vladimir Putin, in which he announced the company’s intention, in partnership with Logoper LLC, to acquire a 50% stake in TransContainer (plus 2 shares), which at that time belonged to Russian Railways. However, as a result, the company did not take part in the auction, the Delo group of companies by Sergey Shishkarev became the new owner of the asset.
Previously, Alexander Kakhidze headed the customs brokerage department of Russian Railways, he was also an adviser to the vice president of the monopoly, and in 2008–2011. – Advisor to the Vice-Speaker of the State Duma Alexander Babakov.
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