Russian Railways has sold a stake in its cargo subsidiary OJSC TransContainer through an initial public offering.
FESCO Transportation Group acquired a 12.5% stake in TransContainer for $138.9m.
The sale is part of Russian Railway's plan to raise more than RUB150bn ($4.9bn) through selling interest in some of its units by 2012.
The company intends to raise RUB20bn ($652.4m) this year by selling its stakes in OAO TransCreditBank and OAO Elteza, Reshetnikov.
