ITC paid Roubles 125.5bn ($US 4.2bn) for the stake, just above the Roubles 125.38bn asking price, beating off competition from Transoil, which is owned by another Russian oligarch, Mr Gennady Timchenko, and NefteTransServis.
ITC now owns 192,000 units, or approximately 21% of Russia's freight rolling stock, and according to local media reports, ITC general director Mr Alexander Sapronov said after the auction that ITC would offer RZD Roubles 125.5bn for the remaining 25.5% of the Freight One.
The sale of Freight One is the largest transfer of rail assets into private hands since RZD revived its privatisation programme last year.