Transport Distribution

Automotive Specialist Confirm IPO Plans

2nd January 2019

Automotive and finished vehicle logistics specialist GEFCO has confirmed plans to float on the Paris Stock Exchange later this year. Russian Railways (RZD), which bought a majority stake in 2012 of the French-based group is likely to reduce its stake to below 50%, while previous owner PSA will reduce its holding from 25% to below 10%.The remainder will be subject to a two-year lock-in  period.

GEFCO has expanded since the Russian investment into pharma, tech and industrial verticals, which it says now account for an increasingly important chunk of its revenue.