Rail Cargo Austria, the freight subsidiary of Austrian Federal Railways ÖBB, is looking for a financial partner willing to purchase 25% of the company’s stake, Eurailpress reported citing Friedrich Macher, the speaker of the company’s board.
The estimated value of Rail Cargo Austria is EUR 3 billion. Funds gathered through the sale of 25% of the shares would be used for investments in the company’s growth.
In the first 9 months of 2009, Rail Cargo Austria carried 8 billion ton/km, 2 billion less than in the same period of 2008. According to Eurailpress, the company’s loss amounted EUR 100m in the whole 2009.