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  • RusForest acquires Nord Timber Group (NTG) to become one of Europe’s leading forestry companies

    In a move aimed at expanding its operations in the Russian Arkhangelsk region, RusForest has entered into a sale and purchase agreement with the shareholders of Clonri Holding Limited and Piatkowski Holdings Limited, which together with subsidiaries comprise the Nord Timber Group (NTG), regarding the purchase of shares in and receivables from NTG against payment in the form of newly issued shares in RusForest.

  • Russia’s Rosneft to forge ahead with its planned investment with BP despite unfavorable arbitration ruling

    Russia’s Rosneft has said it will forge ahead with a planed deal with BP despite unfavorable ruling by an arbitration panel. The Russian firm had gone into a strategic alliance with BP, but the move encountered opposition from BP’s partners in another joint venture, TNK-BP.

  • Kinross Gold Corp. receives pre-approval to increase Kupol ownership to 100 per cent from 75 per cent

    Canada’s Kinross Gold Corp. announced Friday that its Kupol Ventures Ltd division has obtained pre-approval from a Russian commission to buy the rest of Chukotka Mining and Geological Company. Kupol currently owns 75 per cent of Chukotka, which owns licenses for the Kupol Mine and Kupol East-West exploration.

  • NOVATEK executes call option agreement to buy remaining 25.1 per cent stake Yamal LNG

    OAO NOVATEK (NOVATEK) announced it has executed a call option agreement for the right to purchase the remaining 25.1 per cent stake in Yamal LNG. The transaction is for a consideration of US$526 million, which is valid until 1 July 2012. However, NOVATEK paid US$15 million for the call option, which is included in the option price.
      

  • 3M to invest at least $15 million in the construction of two local manufacturing facilities in Russia

    3M, an American conglomerate, has said it is mulling the construction of two local manufacturing plants in Russia. 3M’s Russia chief executive announced the firm is planning at least $15 million worth of investment, to be used for the construction of the two production plants. One production plant will be used for the manufacture of insulation material and the other to make glass bubbles used in the oil and gas industry.

  • Russia to create a $10 billion direct investment fund with foreign participation to invest in hi-tech and modernization projects

    The Kommersant business daily reported that Russia is planning to create a $10 billion direct investment fund with foreign participation to invest in hi-tech and modernization projects. The Kommersant business daily report indicated that Russia’s Economic Development Minister Elvira Nabiullina said the Russian government will contribute $1 billion to the fund in 2011 and its capitalization would increase to $10 billion in 2015-2016.

  • JSC TransContainer picks up over 67% of leading private operator of cargo handling terminal facilities JSC KedenTransService

    Russia’s JSC TransContainer (TRCN) has acquired more than 67% stake in JSC KedenTransService. TransContainer picked 20.1% of the stake directly and 46.9% stake indirectly through a subsidiary. KedenTransService is a leading private operator of cargo handling terminal facilities in Kazakhstan.

  • General Electric’s 6FA Technology to be key in the modernization of Russia’s Energy Infrastructure

    Russian power Generation Company TGK-9, an affiliate of Integrated Energy Systems (IES), has selected advanced gas turbine technology from General Electric (GE) for a combined-cycle plant that will supply heat and electricity for the residents of Berezniki, an industrial city in Russia’s Urals Federal District. The project supports the Russian government’s initiative to continue modernizing its energy infrastructure to meet the country’s growing power needs.

  • TMK purchases 25.5 per cent stake in Volgograd River Port from the Russian State

    TMK, one of the world’s leading oil and gas steel pipe producers, has acquired a 25.5 per cent stake in the Volgograd River Port from the Russian State. TMK won an auction held by Russia’s Federal Property Management Agency on March 16, 2011.

    OAO Volgograd River Port includes several ports along the Volga River. The transaction was valued at around 113 million Russian roubles, approximately USD 3.9 million.

  • Nissan Motor Co. in talks to acquire over 25 per cent of Russian carmaker with partner Renault SA

    Japanese car manufacturer Nissan Motor Co., with partner Renault SA, is reportedly in talks to acquire over 25 per cent stake in Russian carmaker AvtoVAZ, reported Bloomberg. Nissan is in talks with AvtoVAZ shareholders Troika Dialog and Russian Technologies Corp. to acquire the stake over several years, said Bloomberg.

  • Metalloinvest in fresh merger plans with Norilsk Nickel

    Russian iron miner Metalloinvest has revived its plans for merger with Norilsk Nickel. Alisher Usmanov, the controlling shareholder in the Russian iron miner has revived a pre-crisis plan to merge his firm with Norilsk Nickel and RUSAL, Reuters reported.

    According to Usmanov, it's an unavoidable process that Metalloinvest has to arrive at sooner or later, he said Monday.

  • 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.

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