Russians Invite French Railroad to Share Gefco Stake

State-owned Russian Railways has invited France's national railroad SNCF to become its partner in French logistics firm Gefco if the Moscow-based company buys the business from PSA Peugeot Citroen, Interfax reports.

The Russian news service cites Russian Railways President Vladimir Yakunin. He told reporters earlier this week that his company wants to use Gefco to establish a logistics arm, as Berlin-based rival Deutsche Bahn AG has done.

Bloomberg News says the Russian company has agreed to buy 75% of Gefco for about €800 million. Christian Lafaye, a union leader at PSA, tells the news service, "It's a done deal."

PSA said earlier this year it would divest a majority stake in Gefco to raise cash.