TALLINN - There are three potential investors still considering a purchase of 66 percent of shares in Eesti Raudtee (Estonian Railway), the daily Eesti Paevaleht reported last week. The paper wrote that Transgroup Invest, a company belonging to Estonian nationals, Russia's Prominvestors and Germany's Deutsche Bahn are interested in the purchase.
Estonia's LHV investment bank and Finland's VR, the state-owned railway, have also been mentioned in the media, but reportedly dropped out of the competition.
Transgroup Invest is mainly known for its Muuga Harbour coal terminal, which is causing dust problems in the neighborhood as well as an original office building on Joe Street in Tallinn. Owners of the company are Maksim Liskutov and Sergei Glinka, regarded as two of the richest individuals in Estonia.
Prominvestors is one of the biggest Russian shipping lines, but also distills alcohol and produces agricultural machines. The owner is Sergei Generalov, a former Russian fuel and energy minister.
At the moment, the potential buyers have completed feasibility studies and are preparing to make the last bids.
The 66 percent stake is being sold by Baltic Railway Services, a private company that bought the asset five years ago but has become entangled in a conflict with the government. The state, which owns 34 percent in Estonian Railway, was interested in buying the stake, but the two sides failed to agree on a price.