News / Russian Railways looks to move into logistics with Gefco deal

20/09/2012

After days of mounting speculation, French car-maker Peugeot-Citroen (PSA) today confirmed that it had entered into talks with Russian Railways to sell 75% of its logistics subsidiary Gefco for what is said to be a reduced price of €800 million. This would follow a €100m special dividend payment from Gefco to PSA.

Last year Gefco’s revenues grew by 10% to reach €3.4 billion and it returned an operating profit of €200 million. Plans for its sale were revealed when Peugeot issued ...