MOSCOW (Reuters) – Alstom is ready to sell its 20% stake in Transmashholding (TMH) to the Russian railcar maker by the end of the year, the Interfax news agency said on Friday, citing the head of TMH, Cyrille Lipa.
In March 2022, Alstom announced the suspension of all deliveries and all future investments to Russia, in response to Moscow’s invasion of Ukraine.
Two months later, the railway group declared that it had recorded a depreciation of 441 million euros on TMH.
Asked about the timetable for the sale of Alstom’s stake in TMH, Cyrille Lipa replied “by the end of the year”, without wanting to provide further details.
Alstom did not immediately respond to a request for comment.
The French company, which holds a stake in TMH as an investment, said there were no significant commercial or operational links between it and TMH.
(Reuters report, Gleb Stolyarov, written by Alexander Marrow; French version Lina Golovnya, edited by Blandine Hénault)
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