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Report: Russian Railways puts leasing unit, bank up for sale

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Report: Russian Railways puts leasing unit, bank up for sale

Russian Railways is in discussions with four potential buyers for the assets of railcar leasing unit TransFin-M OJSC and unit Absolut Bank (PAO), Reuters reported May 29, citing three sources briefed on the sale talks.

The potential buyers are said to be PAO Sberbank of Russia, VTB Bank (PJSC), AO Gazprombank and PJSC State Transport Leasing Co., according to one of the sources.

The sale comes as Absolut Bank is set receive a 6 billion-Russian-ruble capital injection from its main shareholder later in 2018, the newswire said. Pension fund NPF Blagosostoyanie owns both companies that are up for sale.

As of May 29, US$1 was equivalent to 62.57 Russian rubles.