The French engineering giant Alstom plans to sell 20% of its stake in the Russian railcar manufacturer Transmashholding (TMH) by the end of 2023, Interfax news agency reported on Nov. 17, citing the general director of TMH, Kirill Lipa.
Information about the timing and the amount that was paid to buy out the 20% stake was not revealed.
A month after the outbreak of the full-scale invasion in 2022, Alstom announced the suspension of all supply deliveries and future business investments in Russia.
The remaining 80% of the shares belong to Russian shareholders, including Lipa himself.
Transmashholding is the only manufacturer of passenger railcars in Russia. It also produces locomotives and rail equipment.
Rachel Amran is a news editor at the Kyiv Independent. She previously worked on the Europe and Central Asia team of Human Rights Watch investigating war crimes in Ukraine. Rachel holds a master's degree in Russian, Eastern European, and Eurasian Regional Studies from Columbia University.
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Independent, under fire — and unstoppable with you on board
Independent journalism is never easy, and it’s even harder in wartime. Yet we can do it without paywalls, billionaires, or compromise. More than 25,000 people chose to stand behind our mission. Thank you for making our work possible.
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