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  • Russia’s Yandex invests $15 million in US creator of the search engine

    Russia’s internet search giant Yandex Friday announced a $15 million investment in the U.S. company blekko, creator of the search engine

    Yandex’s investment was a part of a $30 million funding round, with Yandex as the lead investor. Also participating in the round were an Australian investor, MLC Private Equity, and existing investors U.S. Venture Partners, CMEA Capital and PivotNorth Capital. Along with the investment Yandex acquired a minority interest in the company.

  • Kinross Gold Corp. acquires White Bear Resources Inc.

    Kinross Gold Corporation announced Friday that it has subscribed for 2,350,000 units of White Bear Resources Inc. (White Bear) pursuant to a private placement. Each unit consists of one common share and one share purchase warrant.

  • Coca-Cola in new Russian investment program of US$3 billion over the next five years

    The Coca-Cola Company and its bottling partner, Coca-Cola Hellenic, announced a new Russian investment program of US$3 billion over the next five years, commencing 2012, as part of the official opening of a new Coca-Cola plant in Rostov region.

    Muhtar Kent, Chairman and CEO of The Coca-Cola Company, and George David, Chairman of Coca-Cola Hellenic Bottling Company, Tuesday officially opened Coca-Cola Hellenic’s newest plant in Europe, located in the Rostov region of Russia.

  • Germany’s BASF signs fertilizer supply contract with Russia’s EuroChem

    BASF has signed a contract with EuroChem, Moscow, Russia, to sell its fertilizer activities in Antwerp, Belgium. BASF also plans to sell its 50% share of the joint venture PEC-Rhin in Ottmarsheim, France, to EuroChem.

    The total transaction value is expected to be approximately €700 million. The divestments are subject to approval by the appropriate antitrust authorities. BASF plans to complete the transactions by the end of the first quarter of 2012.

  • Russia’s ABBYY in Fresh Reseller Agreement in North America

    ABBYY®, a leading provider of document recognition, data capture, and linguistic technologies and professional services, Tuesday announced that it has entered into a certified partner reseller agreement with Xerox Corporation.
    Under the new agreement, Xerox will resell ABBYY’s FlexiCapture and Recognition Server solutions to its United States, Canada and Mexico customer base as an offering for Xerox DocuShare, extending ABBYY’s reach in these key regions.

  • NMDC Limited to acquire a coking coal asset in Russia

    According to Mining Weekly, India’s largest iron-ore miner NMDC Limited is set to acquire a coking coal asset in Russia within the next fortnight.

    NMDC chairperson and MD Rana Som was quoted saying the company is looking at a coking coal asset of around 70-million tons that is small and manageable.

    According to Som, the company has sent a team for conducting due diligence and it will return on Sunday.

  • German’s SAP AG to invest a total of US$1.3 billion in its business in Russia and the CIS

    The Vedomosti Business Daily Friday reported that German software developer SAP AG, one of the world’s leading vendors of business management solutions, intends to invest a total of €1 billion (US$1.3 billion) in its business in Russia and other CIS countries by 2015.

  • Uralkali eyeing further expansion to benefit from rising prices and increased fertilizer demand from farmers

    Reuters Friday reported that Russia’s leading fertilizer manufacturer and the world’s number 2 is eyeing further expansion of its capacity. Urakali recently became the world’s second largest fertilizer producer after acquiring its domestic rival Silvinit.
    The expansion move is targeted at taking advantage of rising prices and increased demand from farmers.

  • Takedown Entertainment to acquire worldwide distribution rights to past and future MMA fights with Modern Pankration

    Takedown Entertainment Inc. (TKDN), an authority in the business of mixed martial arts, signed a Letter of Intent to acquire worldwide distribution rights to past and future MMA fights with Modern Pankration, plus certain brand and sponsorship rights.

    Founded in 2001 in Khabarovsk, Russia, Modern Pankration is the preeminent MMA fight promotion in Eastern Russia, and a branch of the World Council of Absolute Fights (WAFC).

  • Rockefeller keen to buy the gas assets of Russia's state diamond monopoly Alrosa

    The Kommersant business daily Wednesday reported that a private investment fund of Steven Clark, Rockefeller is keen to buy the gas assets of Russia's state diamond monopoly Alrosa.

    The Kommersant quoted Rockefeller’s Executive Chairman Dietrich von Erbach-Schonberg saying on Wednesday. The fund offered no less than $1 billion for the assets, according to a source close to VTB Capital which temporarily owns the assets, the paper says.

  • Gano Services Inc. acquires 23 per cent of the shares and 27 per cent of the votes in Ruric

    Gano Services Inc, incorporated in the British Virgin Islands, Tuesday announced the acquisition of 23 per cent of the shares and 27 per cent of the votes in Russian Real Estate Investment Company AB (Ruric).

    Further, Gano Services Inc. has requested that the Board of Directors of Ruric convenes an extraordinary general meeting of shareholders for the purpose of electing new Board members.

  • TENEX signs long term contract with US based Exelon Generation Company LLC

    Russian owned Joint-Stock Company, Techsnabexport, (TENEX), a Rosatom enterprise, and the largest US nuclear generator Exelon Generation Company LLC signed another long-term contract for supply of enrichment services.

    The contract was signed by Mr. Alexei Grigoriev, General Director of TENEX, and Mr. Christopher Crane, President and Chief Operating Officer of Exelon Corporation and President of Exelon Generation.

  • General Electric expands presence in Russia’s healthcare and energy markets

    GE Friday expanded its position in one of the world's fastest growing markets by finalizing agreements to set up two new joint ventures in Russia which could drive $10 - $15 billion in sales.

    Under the new JVs, GE anticipate orders of energy-efficient heavy-duty gas-fired power generation turbines with total capacity of up to 5 gigawatts of power as well as thousands of high-tech medical diagnostic units in Russia.

  • Swissôtel Hotels & Resorts to add another Russian hotel to its portfolio

    Swissôtel Hotels & Resorts is to add another Russian hotel to its portfolio. The international hotel chain has signed a management contract for a hotel in the Russian year-round mountain resort Gorky-Gorod, in the city of Sochi.

    The deluxe hotel will be part of the Krasnaya Polyana winter sports area, which is due to be completed in time for the 2014 Winter Olympics. By then, 59 ski lifts should be up and running, providing access to around 200 kilometers of ski pistes.

  • Mobile TeleSystems OJSC board approves acquisition of 100% stake in Sistema Inventure

    Mobile TeleSystems OJSC (MTS), the leading telecommunications provider in Russia and the CIS, announced Thursday that MTS Board of Directors has approved the acquisition by MTS subsidiaries of a 100% stake in Sistema Inventure which directly owns 29% of the voting stock of Moscow City Telephone Network (MGTS).

    Under the proposed terms, subsidiaries of MTS would acquire for RUB 10.56 billion a 100% stake in wholly owned JSFC Sistema’s subsidiary Sistema Inventure, which in addition to its stake in MGTS has RUB 10.44 billion1 of debt owed to Sistema.

  • Rolls-Royce and Russia’s Rosatom to Collaborate in Civil Nuclear Market

    Rolls-Royce, the global power systems company, will collaborate with Russian state-owned atomic energy corporation, Rosatom, in the area of civil nuclear power.

    The agreement between the two companies follows a joint announcement by UK Prime Minister, David Cameron, and Russian President, Dmitry Medvedev, in which the two countries pledged to work more closely in a number of areas, including civil nuclear power.

  • CapMan Russia invests in Siberian Networks

    CapMan Russia, a fund managed by CapMan, has invested in Siberian Networks. The company is a fast growing Internet Service Provider (ISP) operating in the Siberian Federal District (SFD) of Russia. Siberian Networks aims to further expand its operations in its primary market area with considerable growth opportunities. CapMan will support the company in achieving its targets.

  • Leading biotech companies from Russia and the UK meet to Explore Joint Projects in the International Biotech Sector

    Human Stem Cell Institute and Xenetic Biosciences, leading biotech companies from Russia and the UK, met to discuss opportunities for further collaboration and investment in the international biotech sector. The meeting comes on the eve of UK Prime Minister David Cameron's official visit to Russia.

  • Multinational Search engine Yandex opens Data center in Russia and CIS

    Yandex last week opened the first data center in Russia and the CIS that uses a special energy-efficient server cooling system.

    The cooling system in the new data center uses ambient outside air. Average temperatures in the Moscow region during the year are typically low enough to ensure required temperature conditions in the data center.

  • Sberbank in agreement to acquire 100% of Volksbank International AG

    Sberbank of Russia and the shareholders of Volksbank International AG (VBI) – Österreichische Volksbanken-AG (VBAG), BPCE S.A. (BPCE), DZ BANK AG (DZ BANK) and WGZ BANK AG (WGZ BANK) – have signed a definitive agreement for the acquisition of 100% of VBI by Sberbank.

    The transaction parameter does not include VB Romania, VBI’s banking subsidiary in Romania. The agreed deal price will be 1.0x VBI book value (excluding VB Romania) ranging from €585 million to €645 million depending on business performance of VBI in 2011.

  • Rosneft and ExxonMobil execute strategic cooperation agreement for investments in Russia

    Rosneft and ExxonMobil recently executed a Strategic Cooperation Agreement under which the companies plan to undertake joint exploration and development of hydrocarbon resources in Russia, USA and other countries throughout the world, and to commence technology and expertise sharing activities.

  • The EBRD acquires minority stake in Russian privately owned mining company, GV Gold

    The European Bank for Reconstruction and Development (EBRD) has agreed to acquire for 1.53 billion roubles a 5.26 per cent stake in GV Gold, a privately owned mining company that is one of Russia’s top 10 gold producers.

    The investment in the company is part of an ongoing EBRD strategy to support the fragmented Russian gold mining industry’s competitive position by encouraging consolidation and backing players committed to developing their business in an environmentally and socially responsible way.

  • Gazprom Neft acquires 100% of ZAO Centre of Science-Intensive Technologies

    Gazprom Neft has acquired 100 per cent of ZAO Centre of Science-Intensive Technologies, which holds exploration and production licences for hydrocarbons in the Tsarichanskoye field - the largest of those discovered in the Orenburg region in recent years.

    According to Gazprom Neft’s estimates, recoverable hydrocarbon reserves in the field may exceed 25 million tons. Gazprom Neft is familiarizing itself with a new territory – the Orenburg region, which will become, in the long run, another oil production center for the company.

  • Rostelecom hikes its Stake in CJSC Volgograd-GSM To 100 percent

    Rostelecom OJSC, Russia’s national telecommunications operator, Friday announced that it has acquired a 50% stake in CJSC Volgograd-GSM (Volgograd-GSM) from SMARTS Group for a total cash consideration of RUB 2,322 million (approximately US$ 80.5 million ). As a result, Rostelecom now holds a 100% stake in Volgograd-GSM.

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