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  • McDonald's Corp. plans additional Russia investments to expand its business

    US based food retail giant McDonalds Corp. is planning additional investments in its Russian business as it seeks expansion. The investment, to be undertaken in the next one year, is targeted at increasing McDonalds’ Russian foot print, to position the firm to benefit from Russia’s growing fast-food restaurant market amid still sluggish competition.

  • Renco Group's subsidiary to acquire three steel companies controlled by Russia’s OAO Severstal

    Renco Group Inc’s newly formed, wholly owned subsidiary, RG Steel LLC, is to acquire three steel companies currently controlled by Russian-based OAO Severstal through its U.S. subsidiary, Severstal US Holdings LLC. The transaction, estimated at $1.2 billion, will make RG Steel the fourth-largest flat rolled steel producer in the United States.

  • Eurasia to acquire the development and exploration drilling assets of Slavneft

    Eurasia Drilling Company Limited is to purchase the development and exploration drilling assets of OAO NGK Slavneft (Slavneft) for a total consideration of US$150 million. The transaction is expected to close by mid 2011. Under the terms of the agreement, Eurasia Drilling will acquire Slavneft’s businesses operating in Western and Eastern Siberia.

    They include Megionskoye Upravlenie Burovykh Rabot LLC, Ob geologia LLC, Megion geologia LLC and Baykitskaya Neftegazorazvedochnaya Ekspeditsia LLC.

  • Russia’s state development bank VTB ready to invest in joint venture between Sollers and Ford Motor Co.

    CEO of Russia’s state development bank VEB, Vladimir Dmitriev, has said the bank may be ready to invest in a joint venture between a Russian and a US based auto maker. Speaking to journalists, the chief said VEB is ready to invest in the Sollers-Ford Motor Co. joint endeavor in Russia. However, Dmitriev clarified that VEB does not yet have a deal with the two auto makers.

  • Sistema JSFC subsidiary CJSC Sistema-Inventure acquires over 1% of ordinary shares of MGTS

    Sistema Friday announced that CJSC Sistema-Inventure, a wholly-owned subsidiary of Sistema JSFC, acquired more than 1% of the ordinary shares of MGTS at a price of RUB 436.20 per share, for total cash consideration of RUB 370 million (approximately US$ 12.3 million). Sistema is the largest diversified public financial corporation in Russia and the CIS, and invests in, and is a major shareholder of, companies operating in different industries.

  • JSC Polymetal to acquire 100% interest in a company holding the mining and exploration license for Kutyn gold deposit

    JSC Polymetal announced it has signed an agreement with Olsen Business Limited for which it is to acquire a 100% interest in a company holding the mining and exploration license for Kutyn gold deposit. The investment is for a consideration of 3.5 million of the Company's ordinary shares.

    The acquisition is inclusive of the assumption of approximately US$2 million of debt. As such, the enterprise value of the Transaction is approximately US$67 million, as of Wednesday’s closing price.

  • VTB successfully completes acquisition of Moscow city government’s 46.5 per cent stake in Bank of Moscow

    The Financial Times Wednesday reported VTB has completed its acquisition of a 46.5 per cent stake in Bank of Moscow. The stake was acquired from the Moscow city government. The investment moves the Russian state Bank closer to gaining control over the heart of a financial empire run by allies of the former Moscow mayor Yury Luzhkov, reported FT.

  • AstraZeneca plc to invest upwards of $150 million in the construction of a Russian plant

    AstraZeneca plc is to invest upwards of $150 million in the construction of a Russian plant. The move is aimed at joining rivals in the pharma space looking to sidestep tougher rules on imported medicines as Russia drives to support its domestic industry.

    Under its plans, AstraZeneca will set up the plant in the Kaluga region southwest of Moscow, with construction work set to begin in April this year and the plant is scheduled to launch the production of cancer, heart, and other drugs in the spring of 2013.

  • Meridian in non-binding agreement to acquire some assets of pre-production Russian gold company

    Australia’s Meridian has entered into a non-binding agreement to acquire a 75% interest in the non-alluvial assets of Russian gold company ZAO ZRK Omchak, from UK listed Petropavlovsk PLC. The agreement has an exclusivity period ending 11 May and the transaction is for a consideration of US$40 million.

  • Ford Motor Co. in JV plans with Russian firm for manufacture and distribution of cars in Russia

    US based giant car manufacturer Ford Motor Co. is mulling plans for a joint venture investment with a Russian automaker for the manufacture and distribution of cars in Russia. However, the Ford Motor announcement comes in the wake of a pullout from a joint venture the Russian firm had undertaken with Italian automaker Fiat SpA.

  • Barclays Plc to sell its Russian retail and commercial lending arm

    Barclays Plc is planning to sell its retail and commercial lending operations in Russia. Barclays Plc wants to focus on its investment banking operations, reported Bloomberg. Barclays Plc chief executive officer Robert Diamond announced the plans Friday, after the bank announced its 2010 fiscal year results.

  • Chechen leader asks UAE to invest over $2 billion in the Russian province’s energy and industrial sectors

    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 in 100% takeover of ferromanganese producer Alapaevsk Iron and Steel Works

    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.

  • City of Moscow government values Bank of Moscow at $6.1 billion

    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.

  • A unit of Russia’s Solway Industries commits to invest $3 billion to build a nickel smelting plant

    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 will invest over $400 million in modernization of 124-100 Ruslan cargo aircraft

    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.

     

  • Electronic software provider Teleca Russia receives its first project with a Russian mobile operator

    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.

     

  • Gazprom willing to go ahead with Underground gas storage (UGS) System Development in Russia

    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.

     

  • Russian state bank VTB sells its shares in Norilsk Nickel

    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 acquires Russia based railcar operator Balt-Trans, the second largest operator of grain hoppers in the country

    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 to hike its total fund size to US$50 million to funds early-stage Russian technology firms

    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 MICEX and RTS sign agreement of intent to merger

    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 acquires Russian harvesting company Sibartles

    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.

     

  • Russia’s leading FMCG retailers Dixy Group to acquire industry rival Victoria Group

    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.

     

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