The Russian company Sinara-Transportne machine expressed interest in buying Lasta through a letter of intent.
Only ten days after Lasta’s visit, the Russian company Sinara-Transportne Mine sent a letter of intent, thus showing its interest in buying the oldest and largest Serbian transport company, whose privatization should be announced by the end of June.
This speed of reaction is a clear sign that the delegation of this company, led by the owner Dmitrij Pumpjanski, is satisfied with what it saw in Belgrade. That this is the case is also shown by the fact that they sent a proposal for an agreement on respecting the secrecy of data related to the Serbian company.
The management of Lasta forwarded the obtained documents to the Ministry of Economy, which should define further guidelines in the procedure after the shown interest of the Russians. This includes giving consent to submit data from the company’s ID card, which includes the assessment of the consulting company Beoconex, according to which 100 percent of Lasta’s capital is worth 73 million euros, while 300 to 500 workers are redundant and should be provided with severance pay. That valuation these days is being corrected after the business results from the previous year.
It is a company that operates within the investment group Sinara, which, in addition to designing and producing railway vehicles, diesel generators, light rail systems, locomotives, also deals with investing in business and improving other businesses. It was founded in 2001 and is considered one of the most successful companies in Russia, employing about 19,000 people. Despite the fact that Lasta’s activity is not part of Sinara’s portfolio, ie they do not deal with traffic, they function as an investment fund, which is why they are interested in buying a Serbian transport company.
At least that is what our source from Nemanjina 11 claims, who states that such speed in the reaction of the Russians clearly indicates that they have a serious intention to get involved in the process of privatization of Lasta.
– The arrival of the owner himself, Mr. Pumpjanski, who led the delegation, was the first signal that he personally wants to check the potential of Lasta and see if the investment in it pays off. Only ten days after he returned to Moscow, he showed that he was satisfied with what he saw by sending a letter of intent and a proposal for a confidentiality agreement. Now, everything is in the hands of the Ministry of Economy, to which the management of Lasta forwarded the documentation received from the Russians, and their instructions for further actions are awaited – our interlocutor states.
– It can define as a condition that the new owner should deal with traffic and own a certain number of buses, as was the case in 2007, which would be a ramp for Russians to compete. However, there are indications that this will not be required from the future buyer, because the Russians emphasized that with the purchase of Lasta, they want to use some of its plants as halls for making CNG-powered buses, which they will soon start producing. That part is their trump card, which especially interested Serbian officials. In addition, the Russians are ready to offer a solid price for the purchase of the company and money for the renewal of the vehicle fleet. However, we should wait for the announcement of the tender and see who will apply, because in addition to the Russians, some other companies were interested in Lasta – says the source.
The director of Lasta confirmed the information from the Government
The director of AD Lasta, Vladan Sekulic, confirmed that the Russian company “Sinara-Transportne machine” expressed interest in the privatization of the company, that is, that it sent a letter of intent.
– If you have that information from the Government, it is correct because they have the right information. We forwarded the documentation we received from the Russians to the Ministry of Economy, which is conducting the privatization procedure. The ball is now in their yard and they will, with the consent of the Government, define our next steps. We are in communication with the Ministry of Economy and we are waiting for further instructions on the issue of the Russians or anyone who will appear as a possibly interested company in the process of our privatization – says Sekulic, Srbija Danas reports.
