Monthly Archives: February 2011

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$ … Continue reading

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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 … Continue reading

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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 … Continue reading

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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 … Continue reading

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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 … Continue reading

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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 … Continue reading

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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 … Continue reading

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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. … Continue reading

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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 … Continue reading

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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 … Continue reading

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