March 22, 2017 in Berlin, the first meeting of the...
The Chechen leader has asked the United Arab Emirates (UAE) to invest upwards of $2 billion in the Russian province’s energy and industrial sectors, reported Reuters. The Chechen province, mainly Muslim inhabited has been through two separatist wars since 1994. Analysts have said the Chechen leader is trying to reach out to Muslim states in the Middle East, as it seeks continued FDI.
Russia based Novaem Group of companies is to acquire the ferromanganese producer Alapaevsk Iron and Steel Works, said reports. Russian media reports have indicated Novaem, specialized in the manufacture of equipment and supply of tubular goods and rolled metal products to the energy sector acquired 100% of shares of the Russian ferromanganese producer Alapaevsk Iron & Steel Works located in the Sverdlovsk region from the Ukrainian business group Privat Group.
The Moscow government has valued the Bank of Moscow at $6.1 billion, as it plans to offload its stake in the bank. The valuation was reported last week, with Interfax news agency carrying the news. According to Interfax news agency’s source, the valuation was based on the average share price during six months to October 1. Bank of Moscow’s capitalization stood at $7.4 billion on Thursday last week, or 217 billion roubles, Reuters data showed.
Senior officials of Russia’s Solway Industries said Monday one of the firm’s units is committed to investing $3 billion to build a nickel smelting plant in Halmahera, North Maluku. Gita Wirjawan, the head of the Investment Coordination Board (BKPM), said Solway Industries plans to construct a nickel smelter with a capacity of 150,000 tons per year.
Russia's Volga-Dnepr cargo airline is planning an investment of more than $400 million in the modernization of the An-124-100 Ruslan cargo aircraft. Volga-Dnepr CEO Valery Gabriel told RIA Novosti on Monday of the firm’s plans. The upgrade program includes design and development work on modernization of the An-124's avionics and engines, Gabriel said.
Global supplier of embedded software solutions for consumer electronics, automotive and mobile industries, Teleca, is to develop applications for MegaFon. MegaFon is one of the largest Russian mobile operators. Teleca Friday announced the successful completion of the first mobile application project for MegaFon on the Android and iPhone platforms.
The Gazprom management approved plans for further UGS system development under its 2011 Action Plan for facilities construction, retrofitting and commissioning as well as the terms of reference for the underground gas storage system development until 2015, stated a press release.
Reports have indicated Russian state bank VTB offloaded all of its shares in Norilsk Nickel in the miner's $3.5 billion buyback. VTB deputy Chief Executive Vasily Titov, was quoted Wednesday saying the bank had undertaken the divestment. Norilsk Nickel is the world’s largest palladium miner. Titov is also the chairman of Norilsk Nickel's board.
Sodrugestvo Group has acquired Russia-based railcar operator Balt-Trans. Balt-Trans, established in 2009, is the second largest operator of grain hoppers in the Russia.
Runa Capital, a venture capital fund, announced it will increase its total fund size to US$50 million. Runa Capital increases the fund following growing interest among Russian and international technology entrepreneurs and investors, who are keen supporting early-stage Russian technology companies compete at a global level. Runa funds early-stage Russian technology firms.
Russia’s bourses MICEX and RTS have signed an agreement that may see them merge. MICEX announced its shareholders signed an agreement of intent under which the MICEX is to acquire a controlling stake in RTS. RTS shareholders will own more than 50% stake in the Exchange.
RusForest AB is to acquire Russian harvesting company OOO "Sibartles". Sibartles is the holder of a pine dominated forest lease, located approximately 80 km north of the Boguchansky LPK sawmill. The firm has an Annual Allowable Cut (AAC) of 165,400 m3, covering an area of 105,497 hectares, read RusForest’s press release.
One of Russia’s leading FMCG retailers, the DIXY Group, is to acquire its industry rival, Victoria Group of Companies. Victoria Group of Companies is a leading food retail chain by revenue and number of stores in Russia. Victoria operates in the neighborhood store, discounter, supermarket and cash & carry formats.
The BP-Rosneft deal suffered its first major drawback after a London High Court granted an injunction following a law suit filed by a group of Russian shareholders in the TNK-BP joint venture deal. The injunction puts the investment on hold till February 25. However, the injunction could be extended depending on the decision of the Stockholm Arbitration Court.
In a bid to expand its presence in the region, Bloomberg reported that Russian telecoms giant Vimpelcom exercised its option to purchase a 50.1% stake in Menacrest, owner of Kyrgyz mobile network operator Sky Mobile.
The Bloomberg report cited Russian Newspaper, Vedomosti, in a report it carried indicating Vimpelcom acquired the stake from Kazakhstan-based Crowell Investments in exchange for writing off US$150 million of debt.
US based Soft drink and snacks maker PepsiCo Inc announced it has gained approval from Russia’s Federal Antimonopoly Service for PepsiCo's previously announced acquisition of Wimm-Bill-Dann Foods OJSC. Wimm-Bill-Dann Foods OJSC is Russia's leading branded food-and-beverage company. Subsequently, PepsiCo has received all regulatory approvals required as conditions to completing the acquisition.
US oil major Exxon Mobil is to invest $1 billion in Russian state owned oil firm Rosneft for the development of more than a billion tons of Black Sea oil. ExxonMobil is the biggest privately-controlled oil company in the world. The investment comes as Exxon’s first venture in Russia in more than a decade. The move follows Moscow’s attempts to thaw its frosty investor climate and keep its oil flowing.
Kuwait Energy Company KSCC announced it has completed the acquisition of two oil fields in Russia owned by Pechora Energy Company LLC and OJSC VIK. The Kuwait energy firm acquired the two Russian firms, gaining exclusive control of their operations, inclusive of the oil fields.
Kuwait Energy is one of the fastest growing independent oil and gas exploration and production companies in the Middle East. The acquired oil fields are Luzskoye, run by Pechora and Chikshina, run by OJSC, from Concorde Oil and Gas Limited.
Yandex, Russia’s foremost search engine and internet portal, acquired Loginza, a domestic startup for an undisclosed amount. Loginza’s services enable developers implement user authentication through sites such as Facebook, Twitter or OpenID-supported sites, minus additional registration.
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