The French concern Alstom sold its 20% stake in Russia's largest manufacturer of wagons and locomotives, JSC Transmashholding (TMH) for 75 million euros. “Business.Censor” writes about this with a link to the company’s messages.
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The agreement was closed in early January 2024, its carrying amount was zero due to the preliminary impairment of these assets. Alstom notes that in September 2023, the United States included the Russian Transmashholding in the sanctions SDN List.
“The Group further assessed the potential risk arising from new OFAC sanctions and decided to sell its stake in TMX,” – noted in the message.
As reported, in March 2022, the French concern Alstom, one of the world leaders in the production of energy equipment and railway transport, announced the cessation of supplies of products and investments in Russia due to its invasion troops to Ukraine.