UVZ-Logistic, parent company of Uralvagonzavod, the largest railcar manufacturer in the CIS, signed an initial deal in June with rail operator Railtransholding that paves the way for a merger. The final merger framework has yet to be disclosed, and the deal could take until the end of the year end to close. The merged company would have a 60,000-strong fleet, including open wagons, oil tankcars, and other rolling stock. Market participants say more mergers are likely this year because of Russia’s current railcar surplus and resulting low lease rates.
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