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  • Fiat SpA to invest $1.1 billion and build 120,000 cars a year in Russia

    According to Reuters, Italian carmaker Fiat SpA will invest $1.1 billion and build 120,000 cars a year in Russia to take advantage of state investment incentives and a recovering car industry. Reuters quoted the Russia's Economy Ministry revealing the plans.

  • KBC Bank buys part of International Finance Corp’s stake in Absolut Bank (Russia)

    KBC Bank and the International Finance Corporation (IFC), the private sector arm of the World Bank Group, signed an agreement last month through which KBC Bank now has acquired a large part of IFC’s current 5% stake in Absolut Bank (Russia).

    The investment is for a total consideration of US$66,806,770. The sale is the result of the exercise by IFC of its put option it had agreed with KBC Bank on 16 May 2007. The transaction was finalized Tuesday. As a result KBC Bank now holds a 99% stake in Absolut Bank, while IFC maintains a 1% share.

  • OVL keen on acquiring 15 per cent stake in Russia's Yamal LNG project

    According to the Times of India, ONGC Videsh Ltd (OVL) is considering forming a consortium with four other state-run oil firms to acquire a 25% equity in an entity that is proposed to be formed by pooling assets of its subsidiary Imperial Energy and those owned by Russian oil-to-telecom group Sistema's holding in Russneft and Bashneft.

  • France and Russia to collaborate in an investment program to build ski resorts for 2014 Winter Olympics in Sochi

    According to Bloomberg, France and Russia are to embark on an investment program that will see the two countries jointly build ski resorts in the North Caucasus for the 2014 Winter Olympics in Sochi.

    Under the plans, Caisse des Depots et Consignations, the French state-owned bank, will partner with Russia’s state-run North Caucasus Resorts Co. to attract investors from both countries, according to a joint statement by Presidents Nicolas Sarkozy and Dmitry Medvedev at the Group of Eight summit in Deauville, France.

  • Travelmenu raises $1.6 million in growth capital from Almaz Capital Partners

    Travelmenu announced that it has raised $1.6 million in growth capital from Almaz Capital Partners, general partner of the Almaz Capital Russia Fund I (also known as the Almaz Capital/Cisco Russia Fund I) and Runa Capital, two leading venture capital firms in Russia. Travelmenu will use the funds to invest in a direct-to-consumer marketing campaign and build additional sales infrastructure.

  • JSC "Polymetal" acquires 100% interest in hard-rock gold exploration and mining license for Elmus property

    JSC "Polymetal" announced that it has acquired a 100% interest in a company holding the hard-rock gold exploration and mining license for Elmus property.

    The total enterprise value of the Transaction (comprising consideration payable in cash for the 100% interest in the acquired company and for the debt of the acquired company assigned to Polymetal) is approximately 33 million roubles, or US$1.2 million (on the basis of the Bank of Russia exchange rate as of May 27, 2011).

  • RusForest AB picks up minority stakes in subsidiaries through issue in kind

    RusForest AB has acquired the outstanding minority stakes in its Ust Ilimsk based subsidiaries LLC RusForest Ust Ilimsk and LLC PIK-2005. The acquisitions were carried out by way of an issue in kind of a total of 847,645 RusForest shares to the previous owner in accordance with the authorization to issue shares granted to the Board by the EGM held on 15 April 2011.

    The issue is subject to registration with the Swedish Companies and Registration Office.

  • China Investment Corporation keen on direct investments in Russia

    According to the Xinhua News Agency, China Investment Corporation (CIC) is keen on direct investment in Russia. China Investment Corporation is a Chinese sovereign fund.

    The $300 billion sovereign wealth fund’s chairman and chief executive Lou Jiwei, told Xinhua that Russia has huge development potential, given the size of its market and its wealth of resources. Jiwei was speaking during a visit to Moscow.

  • Johnson & Johnson acquires several over-the-counter medicines sold in Russia

    According to Reuters, Johnson & Johnson (J&J) agreed to buy several over-the-counter medicines sold in Russia from J B Chemicals and Pharmaceuticals Ltd for about $260 million as it expands into emerging markets.

    The brands included in the acquisition are Rinza, Russia's leading multi-symptom cough and cold brand, and Doktor Mom, Russia's No. 2 cough brand, J&J said in announcing the deal on Monday. Russia is the world's eighth-largest OTC market, J&J said. The deal is expected to close by the middle of the year, said Reuters.

  • ESAB completes acquisition of Russian electrode manufacturer, Sychevsky

    ESAB, one of the world's leading manufacturers of welding and cutting equipment and welding consumables, has completed the acquisition of Sychevsky, a Russian electrode manufacturer. Sychevsky manufactures welding electrodes for electric arc welding including electrodes for the nuclear industry and for welding alloy thermal steel and the plant. 

  • BP’s plan to gain a foothold in Russia’s offshore Arctic oilfields via JV with Rosneft collapses

    Reuters Friday reported that BP’s plan to gain a foothold in Russia’s offshore Arctic oilfields through a deal with Russia’s state-controlled Rosneft collapsed, after a deadline for the tie up passed Monday. The move now opens the way for other oil majors to try to fill its place, said Reuters.

    According to Reuters, the tie-up unraveled because BP failed to appease partners in its existing Russian venture TNK-BP. The billionaire partners argued BP had no right to strike a new deal in the country without them.

  • OJSC Pobeda LSR signs agreement with Germany firm to produce and supply equipment for new Plant

    OJSC Pobeda LSR, a subsidiary of LSR Group, signed contracts with Germany’s Händle and Lingl to produce and supply equipment for the new brick plant which is currently under construction in the Leningrad region. The annual production capacity of the plant is 220 million bricks. The total value of the contracts is €32.03 million (excluding VAT).

  • PetroKamchatka PLC in trading halt pending investment announcement

    PetroKamchatka Plc, an international junior oil exploration company incorporated in the Bailiwick of Jersey, announced that it has halted the trading of its stock pending an investment announcement.

    PetroKamchatka Plc has signed a non-binding agreement with Mr. Sergey Dokuchaev and Mr. Valery Garipov in respect of a proposed share exchange transaction. Pursuant to the agreement, PetroKamchatka would issue common shares in exchange for all the outstanding stock of Advastor Services Ltd.

  • X5 acquires 8.45% Stake in A5 Pharmacy Chain

    X5 Retail Group N.V., Russia's largest retailer in terms of sales Tuesday announced that it has completed the acquisition of 8.45% stake in A5 pharmacy chain, one of Russia’s leading pharmacy retailers. ?5 also retains the right to purchase up to 100% of the chain until the end of 2012.

    Andrei Gusev, X5 Retail Group CEO, commented that the Company’s number one priority is to strengthen X5 Retail Group’s core business efficiency. However, Gusev said the company has no plans to expand into new market segments at this time.

  • EBRD acquires a minority stake in Russia’s Hlebprom

    The EBRD, through a £10 million investment, acquired a minority stake in Hlebprom, a leading Russian cake and biscuit producer which has developed its own national distribution system. The funding will mainly be used to upgrade the privately-owned company’s existing plants so as to increase efficiency and productivity.

  • BP Plc in last-ditch talks to buy out the Russian partners in its joint venture TNK-BP Ltd

    According to the Wall Street Journal, British oil giant, BP Plc is in last-minute talks to buy out the Russian partners in its joint venture TNK-BP Ltd, in a deal that could be worth $30 billion (18 billion pounds) or more.

    A Wall Street Journal report on Sunday reiterated that the deal would salvage the British oil giant's efforts to reach a landmark Arctic alliance with Russian state oil company Rosneft. The Wall Street Journal quoted people familiar with the situation.

  • Russia's state controlled Sberbank in talks to acquire BNP Paribas' Russian retail business

    The Kommersant business daily Friday reported that Russia's top lender, state-controlled Sberbank, is in talks to buy BNP Paribas' Russian retail business. The Kommersant quoted two banking sources, without revealing their identities.
    Kommersant said France's biggest listed bank is the No.7 player on the Russian retail lending market, working under the Cetelem brand. A Sberbank source confirmed to Kommersant the talks were underway, while BNP Paribas declined to comment.

  • Federal Antimonopoly Service approves Victoria Group acquisition

    The Federal Antimonopoly Service (FAS) of the Russian Federation approved the DIXY Group and the DIXY Holding Limited request to acquire 100 per cent share of VICTORIA Group.

    FAS decided to approve the request on condition that before acquiring 100 per cent of the VICTORIA Group voting shares within the deal framework, the VICTORIA Group should discontinue using for the purposes of food retail operations trade objects located the town of Serpukhov of the Moscow Region and the Serpukhov municipal district of the Moscow Region.

  • Roca acquire Russia’s foremost company in furniture for the bathroom industry

    Roca has acquired Akvaton, the leading Russian company in furniture for the bathroom space. This acquisition marks an important step in Roca’s consolidation in this strategically important market, at the same time strengthening its leadership position worldwide.

  • Russian company INTER RAO UES to purchase the shares of Hrazdan's hydro-power plant

    According to, the Public Services Regulatory Commission has permitted the Russian company INTER RAO UES to purchase the shares of Hrazdan's hydro-power plant.

    The plant had transferred 100% of its shares to the Russian Rosneftgaz in 2009. The deal, along with transfers from 78 other natural gas companies had helped the Russian government to increase the company's assets. The owner of the Hrazdan hydropower plant is the Russian Federal Agency for State Property, said the report.

  • CapMan Russia fund invests in Russia based Virial

    The CapMan Russia fund, in collaboration with the Moscow-based nanotechnology investment company RUSNANO, has invested in Virial. Virial is a Russian manufacturer of ceramic and cerametallic components used in a variety of industries. The investment will enable Virial to increase its production capacity in the St. Petersburg region and seek growth opportunities in new application areas.

  • Arbitration Court orders BP to include TNK-BP in Russian Offshore Oil-Drilling Venture

    According to a Reuters report, BP will include TNK-BP in the Arctic Ocean offshore oil-drilling venture in Russia after months of court battle. BP will finally allow TNK-BP a share in the Russian venture.

  • Vimpelcom subsidiary buying New Telephone Company for $420 million

    VimpelCom Ltd announced that its subsidiary OJSC VimpelCom reached final agreements and signed the required documents to acquire 100 per cent of the shares of the Open Joint-Stock Company “New Telephone Company” (NTC) from KT Corporation and Summit Telecom Global Management B.V., subsidiary of Sumitomo Corporation.

    The acquisition price for 100 per cent of NTC shares is based on Enterprise Value of US$ 420 million. Accordingly, VimpelCom expects to acquire 90 per cent of NTC shares within the following four weeks.

  • Hines Global REIT buys FM Logistic Industrial Park in Moscow

    The Moscow office of Hines, the international real estate firm, announced Thursday that Hines Global REIT has acquired FM Logistic Industrial Park from AIGEuropean Real Estate Partners, LP. The 750,000-square-foot industrial/warehouse complex is located two miles from Sheremetyevo Airport, one of two large international airports in Moscow and the primary hub for cargo transport in Russia.

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