Deal on Rosatom's entry into Transmashholding's capital being discussed, negotiation timeline unpredictable - CEO

ST. PETERSBURG. March 28 (Interfax) - The deal for Rosatom state corporation to enter the capital of Transmashholding (TMH) in exchange for acquiring the state corporation's stake in Delo Group is under discussion, and the negotiation timeline is unpredictable, Transmashholding CEO Kirill Lipa told Interfax.

"Talks on this topic are ongoing, that's all I can say," he said when asked about the potential deal.

When asked when the deal might be finalized, he said, "It's an unpredictable matter - when [the negotiations] are over, they're over."

Responding to a question about why TMH needs Rosatom's entry into the company's capital, Lipa said that they already have such experience.

"First, we already have a joint company with Rosatom, we are partners. We have TMH - Energy Solutions, in which Rosatom owns a 25% stake. Overall, we have a major partnership program underway, and today we are unique suppliers of diesel engines," he said.

As previously reported, in January, Delo Group Board Chairman Sergei Shishkarev said that he sees potential for creating a world-class transport and logistics conglomerate as a result of a deal between TMH, Rosatom and Delo Group to consolidate logistics assets.