{"id":156521,"date":"2024-12-10T19:26:01","date_gmt":"2024-12-10T09:26:01","guid":{"rendered":"https:\/\/www.railfreight.com\/?p=58437"},"modified":"2024-12-10T19:26:01","modified_gmt":"2024-12-10T09:26:01","slug":"estonian-operail-sold-for-19-million-euros","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=156521","title":{"rendered":"Estonian Operail sold for 19 million euros"},"content":{"rendered":"

The formerly state-owned Estonian rail freight operator Operail was sold to Tiigi Keskus, a real estate company. The price of the transaction has finally been disclosed: 19 million euros. Now, the only remaining issue is the one concerning sanctioned wagons.<\/strong>
\n<\/span>Operail\u2019s sale to Tiigi Keskus was announced at the end of October, but some details, including the price, were still undisclosed. The privatisation of the company was a necessary step, since Operail was struggling financially, mostly due to the consequences of the Russian invasion of Ukraine, becoming a burden on the state\u2019s finances.<\/p>\n

New owner Tiigi Keskus is reportedly going to take over as of today, 10 December. \u201cAt first glance, it’s clear that we need to step up container freight activities\u201d, said Richard Tomingas, a member of the supervisory board at Tiigi Keskus in an interview with Estonian media ERR. The company set up a subsidiary, Railproject O\u00dc, for the acquisition of Operail. Merle Kurvits, already a board member at Operail will be the CEO.<\/p>\n