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  • Russia’s MegaFon mulling the acquisition of regional mobile operator NTC, reports

    Russian mobile operator MegaFon is interested in acquiring the regional mobile operator NTC, media reports indicated. However, the reports further indicated the firm is still wary of potential opposition from the Russian regulatory watchdog FAS. Even so, if MegaFon goes ahead with its plans, the successful acquisition of NTC will increase MegaFon’s market share to more than 50 per cent.

    NTC operates in the Primorye region, with a subscriber base of 1.5 million. Korea Telecom, the owner of NTC, plans to sell the regional operator. 

  • Turkey’s Boydak Holding acquires two furniture manufacturing plants in Russia and Ukraine

    Turkish firm Boydak Holdings acquired two manufacturing plants, each in Russia and Ukraine, from Poland’s Fabryki Mebli Forte SA. Boydak acquired Fabryki Mebli Forte’s Russian furniture manufacturing plant in the city of Vladimir, and another in Artemovsk, Ukraine. Fabryki Mebli Forte SA is a leading Polish furniture manufacturer and the investment was for a consideration of $20 million.

  • VTB Group to increase its stake in TransCreditBank to 75 per cent in foreseeable future

    Bloomberg reported that Russia’s second biggest bank, VTB Group, will likely increase its stake in TransCreditBank up to 75 per cent in the foreseeable future. Quoting VTB’s Deputy Chairman Herbert Moos, Bloomberg said VTB is keen on increasing the stake at the same price it had earlier agreed on with TransCreditBank in 2010.

  • Russia's leading steel producer Magnitogorsk Iron and Steel Works to acquire MMK-Atakas

    Russia's leading steel producer, Magnitogorsk Iron and Steel Works or MMK announced it had signed a share purchase agreement to acquire 50 per cent minus one share of MMK-Atakas from the Atakas Family. Under the agreement, Magnitogorsk Iron will pay an estimated US$ 485 million. Thus, MMK will be able to consolidate 100% shares in the Company. The transaction is expected to be completed by November 01, 2011. The completion is subject to obtaining necessary permissions and approvals.

  • Russia’s largest bank Sberbank expands into Investment banking with purchase of Troika Dialog

    Russia’s largest bank Sberbank has acquired the country’s leading investment bank, Troika Dialog, in a move to expand into investment banking. This investment creates numerous benefits for international financial markets by bringing together the knowledge, expertise and resources of two leading Russian financial institutions.

  • TNK-BP invests in a 74.9 per cent stake of Sheremetyevo’s Fueling Complex

    LLC TNK-Sheremetyevo, a subsidiary of OJSC TNK-BP Holding, has completed a deal to acquire 74.9 per cent of CJSC “Toplivozapravochny kompleks Sheremetyevo”, the operator of jet fuel storage and into-wing fueling services at Sheremetyevo International Airport.

    The company acquired the right to carry out the deal by winning a tender run jointly by Aeroflot and Sheremetyevo airport in December 2010. The transaction is valued at over $200 million.

  • Arysta LifeScience acquires a majority stake in Russia’s FES Group

    Arysta LifeScience announced it has acquired a majority stake in Russia’s FES Group. Commenting on the acquisition, Wayne Hewett, President and CEO, Arysta LifeScience Corporation said Arysta LifeScience has evolved into a high-performance company by maintaining its focus on identifying innovative products and formulations and ensuring that customers in its targeted growth markets have access to these products.

  • Bombardier buys stake in Russia’s signaling equipment manufacturer United Electrical Engineering Plants, or Elteza

    Bombardier has completed its acquisition of Russia’s signaling equipment manufacturer United Electrical Engineering Plants, known as Elteza. The move follows a share purchase agreement signed between the two firms last year December. The acquisition was undertaken by BT Signaling B.V.

    BT Signaling B.V. purchased a 25 per cent stake in Elteza, a subsidiary of Russian Railways (RZD). Subject to further approval, BT Signaling B.V. could increase its stake to up to 50 per cent. Russian Railways will remain the majority shareholder.
     

  • French based Total SA to pay $4 billion for a minority stake in Russia's largest independent natural gas producer

    French energy giant Total SA has signed an agreement with Russia’s Novatek for the acquisition of a minority stake in the Russian firm and its Arctic gas project. The agreement was signed between Total’s Christophe de Margerie and Novatek’s Leonid Mikhelson, in the presence of Russian Prime Minister Vladimir Putin. The transaction is expected to be closed by April 2011 and amounts to approximately $4 billion.

  • Russian grid firm FSK increases investment plans for 2011

    In a bid to revamp its operations and upgrade, Russian grid firm FSK is mulling 2011 investments increase of almost 11 per cent. The move will see the energy firm hike its 2011 investment spending to $7.3 billion, as it prepares for a listing on the London Stock Exchange and its part-privatization. A company spokesperson confirmed the move to Reuters, reiterating FSK’s plans for major revamps and upgrades.

  • Russia telecoms firms sign agreement with Russian government to build next generation of mobile networks

    Four of the biggest telecoms firms in Russia, together with Scartel, which trades under the Yota brand, signed an agreement Thursday with the Russian government for the construction of next generation mobile networks in the country. The companies will establish a joint venture to work together for the creation of the networks. The agreements were signed between the companies and Russian Prime Minister Vladimir Putin, together with the country’s Communications and Press Minister Igor Shchyogolev.

  • 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.

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