GEFCO on the block – report

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REUTERS reports:

Gefco has been put up for sale by owners Russian Railways (RZhD) and carmaker Stellantis (STLA.MI) in a deal expected to be worth more than 2 billion euros ($2.39 billion), people close to the matter said.

The owners are working with JP Morgan (JPM.N) and Rothschild (ROTH.PA) on the divestiture, they said, adding potential buyers have already been asked to log their interest.

Gefco, its owners and the banks declined to comment.

Gefco is expected to post earnings before interest, taxation, depreciation and amortisation of 345 million euros on sales of 4.4 billion this year, one of the sources said.

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