Russian Railways Discuss Expansion In Logistics

Russia's state railway monopoly is in talks to buy Gefco as it bets on growing demand for transporting goods overland between Europe and Asia.

Russian Railways is willing to pay $1 billion (800 million euros) for a 75 percent stake in Gefco, a logistics business, which would first pay a special dividend of 100 million euros to Peugeot, helping its current owner cut debt and contain mounting losses.

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