By: John Glover (MBA)

In a significant move within the transportation sector, Nikita Mishin has sold his remaining stake in Globaltrans Investment PLC, one of Russia’s leading private freight rail operators. The transaction marks Mishin’s exit from the company he co-founded, signaling a shift in the business landscape.

Aqniet Capital’s Strategic Acquisition

Nikita Mishin’s stake in Globaltrans was acquired by Aqniet Capital, which Kazakh entrepreneur Kairat Itemgenov owns.

Nikita Mishin and partners Konstantin Nikolaev and Andrei Filatov founded Globaltrans in 2004. Over the years, the company expanded its footprint significantly, becoming one of the biggest players in the Russian freight rail transport market.

Aqniet has successfully acquired a 26.19% indirect stake in Globaltrans by purchasing the shares of Mishin’s co-founders, Konstantin Nikolaev and Andrei Filatov.

Furthermore, Aqniet Capital has entered into definitive agreements to buy additional shares from Litten Investments and another independent shareholder. Once these pending transactions are finalized, which is anticipated to occur before the year’s end, Aqniet’s total shareholding in Globaltrans will rise to 31.62%.

“This investment offers me a unique opportunity to both diversify into an attractive sector and acquire a significant holding in a business that has a proven operational model, excellent prospects, a prominent market position and a strong corporate governance framework. I am also delighted that Sergey Maltsev has agreed to continue contributing to Globaltrans’ success and to seek re-election to the Board, a move I intend to wholeheartedly support. I also fully support the strategy of the Company, including the ongoing re-domiciliation, and have strong confidence in the professionalism of the executive team. I have every faith this business will continue to go from strength to strength,” Kairat Itemgenov said.

Leadership Continuity Amidst Ownership Shift

The transition to the Abu Dhabi Global Market is part of Globaltrans’ broader strategy to position itself favorably within the international business community. Maltsev’s decision to stay on board is seen as a stabilizing move for the company’s governance during this period of change.

In a statement reflecting on the implications of the recent ownership changes, Globaltrans founder and shareholder Andrei Filatov emphasized the importance of the transportation sector within the Russian economy and his ongoing commitment to the business. “I do not and never have planned to leave the Globaltrans business. This is a high-quality and promising asset,” Filatov commented, expressing confidence that introducing new shareholders will further bolster Globaltrans’ standing in the competitive Russian railway transportation market.

The sentiments expressed by Maltsev and Filatov underscore a message of continuity and growth for Globaltrans, even as the company undergoes significant changes in its shareholder composition and corporate domicile. Industry observers are closely watching how these developments will impact Globaltrans’ operational strategy and market performance in the future.

“As an entrepreneur, Kairat Itemgenov understands and shares the spirit that drives our business, a spirit that has enabled us to build one of the leading industry players. We are pleased to have Mr. Itemgenov joining our shareholder base and believe that with the ongoing support of our shareholders, we can successfully pursue our strategy and continue to create value for all stakeholders,” Valery Shpakov, CEO of Globaltrans, said.

Navigating Market Volatility

The deal comes as the freight rail industry grapples with the challenges of an uncertain global economy and fluctuating commodity markets. Globaltrans, which specializes in the shipment of oil products and metals, has been adapting its operations to navigate these market conditions.

Analysts are closely watching this move, as Mishin’s decision to divest could indicate broader trends within the industry or his assessment of the company’s future growth prospects. The sale also raises questions about the potential for consolidation in the sector as key players look to strengthen their positions through strategic acquisitions.

Globaltrans Financial Health

Globaltrans’ operational performance has been robust. The company reported a 7% increase in net profit to $535 million in the previous year despite a slight dip in revenue. The company has attributed this performance to its cost-cutting measures and efficiency improvements.

The exit of Mishin from Globaltrans’ list of shareholders closes a chapter for the company, which is now looking ahead to navigate the industry’s evolving landscape without one of its original architects. Investors and industry observers will be keen to see how Globaltrans positions itself for future growth and whether this divestment heralds further changes in ownership structures within the sector.

Published By: Aize Perez