TransContainer Terminates GDR Program and Delists GDRs
September 29, 2020
Cleary Gottlieb represented PJSC TransContainer (TransContainer) in the termination of its GDR program with The Bank of New York Mellon and the subsequent delisting of the GDRs representing ordinary shares of TransContainer from the London Stock Exchange and the Moscow Exchange.
The termination of the GDR program and the delisting of the GDRs were completed in light of the 100% consolidation of ordinary shares of TransContainer by Delo-Center LLC, the controlling shareholder, following the recently completed mandatory squeeze-out procedure by Delo-Center LLC.
TransContainer (MOEX: TRCN) is the leading intermodal container transportation company in Russia with a market share of approximately 41%. It is the market leader in Russia by flatcar fleet size, container transportation by rail and railside container terminal throughput.