RUSSIA IS SELLING ITS RAILROAD TO THE HIGHEST BILLIONAIRE BIDDER

The Russian government is selling 40 percent of Russia’s rail cars to the highest bidder, with bids starting at $4 billion. So, who will get control?

Energy mogul Gennady Timchenko is a likely winner according to analysts. He’s expected to outbid the richest man in Russia Vladimir Lisin with an estimated $24 billion net worth.

Lisin already controls seaports and shipping companies, controlling $2 billion of transportation assets. He is also the country’s largest steel producer. Timchenko, on the other hand has a rail carrier that controls 30,000 cisterns and 36 trains. He also owns a company that’s responsible for 20 percent of Russian oil exports.

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Source: mogulite.com