Responding to speculation regarding a potential merger with NefteTransService, rail transportation group Globaltrans Investment PLC (GLTR.L) Sunday emphasized that its strategy remains to seek out growth both organically and by selective acquisitions to create value for the Group and its shareholders.
To this end, the company consistently evaluates opportunities in the Russian rail freight market, Globaltrans said. However, it added that it is currently not engaged in any acquisition discussions with NefteTransService.
Globaltrans has operations in Russia, the CIS and the Baltic countries. Its main business is the provision of freight rail transportation services. The firm provides services to more than 650 customers, including several large Russian industrial groups in the metals and mining and the oil products and oil sectors.
Media had speculated that the two firms were discussing a merger to create a business with sales of $2.7 billion and a 10 percent control of the Russian market.
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