Estonia mulls buy-back of rail firm from US investor
AFX News: 12.22.2005
TALLINN (AFX) - The Estonian state is considering a proposal from the main US shareholder in Estonian Railways that it buy back the rail firm it privatised four years ago, officials said.
US company Baltic Rail Services, which owns 66 percent of Estonian Railways, has invited the Estonian government to make a bid for its shares.
The government currently owns 34 percent of the company.
'Whether the Estonian state acquires the shares owned by BRS in Estonian Railways depends on the price and the conditions,' Estonian Prime Minister Andrus Ansip told reporters.
'But I would not give a guarantee that the state (will) buy back the railway at any cost,' Ansip added.
BRS has said it has other interested investors wishing to snap up its stake in Estonian Railways but it approached the Estonian state first.
The Estonian investment bank Suprema said last year Estonian Railways was worth 340 million euros.