Spectator on facebook

Spectator on facebook

Cargo signs deal on wagons sale

THE STATE-run freight railway company ZSSK Cargo signed a deal on the sale and purchase of wagons with the winner of the competition, Swiss firm Ahaus-Alstätter Eisenbahn Cargo AG (AAE).

(Source: SME)

Based on the deal AAE will get 66 percent of the basic capital in the subsidiary of the state-run freight carrier Cargo Wagons. Both sides also signed the shareholder agreement which concerns their mutual relations, the SITA newswire reported.

The final documents, which have already been approved by both firms, will be signed after getting permission from the authorities supervising the competition and after registering the transfer of the shares. These concern the sale of 12,324 wagons of ZSSK Cargo to the Swiss firm and the then rental of 8,216 of these wagons by the state firm, as well as a bank loan whose aim will be to pay part of the commission for transferring the wagons.

“ZSSK will subsequently get €216.6 million for the sale of wagons which it will use to reduce its debts,” company’s spokesperson Martin Halanda said, as quoted by SITA, adding that the whole process may be completed in May 2015.

AAE offered €7 million for the 66-percent share in Cargo Wagon, while the minimum price was set at €6.6 million. It also promised that after purchasing the wagons it will offer them to ZSSK Cargo for an eight-year rental period with an option for another eight years for €10.35 per wagon per day. The renting of wagons for eight years will cost the state more than €248 million, SITA wrote.

The entrance of the strategic partner to Cargo Wagon is part of the proposal of measures to consolidate the state-run freight railway transport adopted by the government in July 2013. ZSSK Cargo started the international competition in October 2013. It was won by AAE last June.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Topic: Transport


Top stories

Marian Kočner and Pavol Rusko released

Kočner and Rusko will not be held in custody while they are under prosecution for forging promissory notes to the private TV channel Markíza.

Ján Šanta

Long breakaway gives Slovak championship to Sagan, surprising everyone Video

Even former cycling legend and sports commentator Jan Svorada was shocked by the breakaway which secured Sagan's sixth victory in the Slovak championship.

Peter Sagan wins the Czech y Slovak Championship, June 24, 2018

Threats, scandals, and dubious political ties. Who is Marian Kočner?

The businessman with many ties to politicians has been detained by police.

Marian Kočner

Blog: Human Capital in Slovakia: Preparing for the next industrial revolution

A closer cooperation between business and academia is of key importance if Slovakia is to strive in the ongoing industrial revolution.

In centres of excellence, a group of skilled workers is using brand new technologies.