From 24 to 26 May 2017 in Innopolis within Cipro...
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.
© Copyright 2010-16 Invest in Russia Hanko Hackberry Group All rights reserved.