RDIF and leading Middle Eastern funds invest in GlobalTruck
Press release, 01.06.2017
St. Petersburg, June 01, 2017 – The Russian Direct Investment Fund (RDIF) announces that is has agreed to invest in GlobalTruck, one of the largest and most dynamic players in the Russian road freight market, alongside leading Middle Eastern funds. The parties agreed the key terms of the deal and signed the agreement today at the St. Petersburg International Economic Forum. The consortium’s aggregate investment in the company will exceed $50 million. GlobalTruck will use the funds for business growth, including fleet expansion and acquisitions.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“GlobalTruck is a leader in the road freight industry and an example of a highly-efficient, world-class company. Its team has a proven ability to implement successful business plans. Investments by RDIF and its leading Middle Eastern partners will be instrumental in helping the company to strengthen its positions in the Russian market through organic growth, as well as strategic M&A activities.”
Aleksandr Yeliseev, Member of GlobalTruck’s Board of Directors, said:
“This investment will allow the company to grow its business and meet an increased customer demand for quality transport services. Thanks to our partners, we expect to strengthen our regional presence and advance our technological capabilities.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
GlobalTruck is one of Russia’s largest independent transport groups, working in road transportation across Russia. Its core business is the provision of cargo transportation services through the use of long haul road trains. The group serves more than 1,000 clients, including the largest international and Russian companies. The Group’s fleet consists of more than 1100 state-of-the-art road trains (mainly Volvo and Schmitz Cargobull).
For additional information contact:
Russian Direct Investment Fund
Director of External Communications
Tel: +7 495 644 34 14, ext. 2141
Mobile: +7 964 726 17 73
Andrew Hayes / Yulianna Vilkos
Tel: +44 (0) 20 7796 4133