The sale was held through an open auction organised by VTB Bank with a starting price of Roubles 7bn ($US 108m), with Business Optima submitting the winning bid of Roubles 8.65bn.

The sale was carried out following a decision by RZD’s board of directors as part of the railway’s strategy to sell non-core assets.

Wagon Repair Company-3 was one of three RZD subsidiaries established during the restructuring of the country’s freight wagon repair facilities in 2011. VRK-3 comprises 39 facilities, with capacity to handle with more than 100,000 wagons a year.

The company specialises in scheduled overhauls and the supply of spare parts for depots. The main activities are overhaul and maintenance, washing and painting, and the sale of spare parts.