Russian Railways’ managers join Gefco Supervisory Board

Russian Railways completes acquisition of 75 percent of Gefco shares; Vladimir Yakunin is new Chairman of Gefco’s Supervisory Board
 
Several representatives from Russian Railways have joined the Supervisory Board of the international logistics operator Gefco SA (Paris). Vladimir Yakunin, President of Russian Railways, was elected Chairman of Gefco’s Supervisory Board. Also joining the Board are Vadim Mikhailov, Senior Vice President, Alexei Kamenobrodsky, head of the Business Project Management Centre at Russian Railways, Pavel Ilyich, Deputy Head of Corporate Finance, Janar Rymzhanova, Adviser to the President of Russian Railways, and Pyotr Baskakov, Managing Director of JSC TransContainer. Henri Kuitunen, CEO of Steveco, and Paul Boston, Managing Director at the bank J.P. Morgan, are joining the Board as independent directors. Gefco’s Supervisory Board has 12 members, including four from PSA Peugeot Citroёn.
 
JSC Russian Railways completed the acquisition of 75 percent of the shares of Gefco S.A. from PSA Peugeot Citroen on 20 December 2012. The total consideration for the purchase of these shares is EUR 800 million. PSA Peugeot Citroen retains a 25% stake, which takes into account, among other factors, the strategic importance of Gefco’s business for the automotive group.
 
The acquisition of Gefco is a further step towards the development of the logistics business at Russian Railways. This will provide Russian Railways with access to state-of-the-art logistics technologies, increase the efficiency of the transportation infrastructure’s utilisation and promote the attractiveness of transit cargo flows through Russia’s territory. Gefco’s experience in 4PL logistics will be invaluable in increasing the efficiency of the internal procurement systems at Russian Railways.
 
The collaboration with Russian Railways will also provide a stable environment for the operation and development of Gefco with a minimal level of corporate risks and ensure maximisation of the company’s value. Russian Railways intends to retain the management of Gefco and all of its existing business units, including those engaged in providing services to PSA Peugeot Citroen.

Quelle: LogEastics

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