Transcontainer Shareholder Seeks Board Reshuffle

Rail group Transcontainer said its board would hold a shareholder meeting to consider a proposal by one shareholder calling for an overhaul of its board and for the election of new members.

The company, which handles half of all rail container transportation in Russia, did not identify the party that requested the meeting but said they held more than 10 percent of its stock.

A source close to Transcontainer said the request had come from transport group Fesco, which has a 23.7 percent stake, according to the company's website. Transcontainer's other large shareholder is state-owned Russian Railways, with 50 percent plus two shares.

The source did not say what had motivated Fesco's request. Fesco declined to comment.