State-owned Russian Railways has been given credit lines by Sberbank totaling 50 billion rubles ($1.6 billion) .
Sberbank did not specify the purpose of the lines, saying Friday that the facilities had been opened "with the goal of managing the current liquidity."
Last month, French automaker Peugeot Citroen said it was in exclusive talks with Russian Railways to sell a 75 percent stake in its Gefco logistics division for 800 million euros ($1.05 billion).
Sources told Reuters earlier this month that Russian Railways was likely to get financing for the deal through a loan from VTB, Russia's second-biggest bank.
(Reuters)
Related articles:
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.