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  • Ericsson to play key role in Russia's Skolkovo Innovation Center

    A strategic agreement has been reached in Russia that will help drive innovation and development in the country's science and technology sectors. Under the agreement, Ericsson will play a key partner role with the non-profit Skolkovo Foundation in the development of the Skolkovo Innovation Center, a high-technology business park aimed at promoting the development of science and technology companies.

  • BP’s Russian oil venture to spend approx. US$1 billion in acquisitions

    According to a report carried by Bloomberg Wednesday, TNK-BP, the Russian oil venture owned by BP Plc and a group of billionaires, is planning to spend an estimated US$1 billion in acquisitions. The move comes amidst a running dispute with a group of billionaire shareholders. Bloomberg said TNK-BP is looking for opportunities in Africa, the Middle East and Latin America to diversify operations away from Russia.

  • Sweco acquires Russian infrastructure consulting companies OOO IKPT and ZAO NIPI

    Sweco has acquired the Russian infrastructure consulting companies OOO IKPT and ZAO NIPI, both leading engineering consultancies in the transport sector. Through the acquisitions, Sweco has significantly advanced its position in Russia and will have a total of 360 consultants in the country, stated a company press release.

    The acquisition represents a further step in Sweco's initiative to expand in Eastern Europe and Russia in the infrastructure, environmental and energy segments. Sweco now has close to 1,300 employees in Eastern Europe and Russia.

  • MTS Group acquires 100% in each of the five companies operating under the Infocentr brand in Kurgan

    Mobile TeleSystems OJSC (MTS), the leading telecommunications provider in Russia and the CIS, Tuesday announced that the MTS Group acquired 100 per cent in each of the five companies operating under the Infocentr brand (Infocentr) in Kurgan, the administrative center of the Kurgan region of the Urals Federal District, from a group of private investors.

  • HSBC to wind up its retail banking operations in Russia

    Europe’s largest bank, HSBC is to wind up its Russian retail banking operations after just two years, reported Reuters. The move comes in the wake of Barclays plc’s decision to close its Russian retail banking operations as well. According to Reuters, a document sent to HSBC clients asked them to close their HSBC Premier and HSBC Plus accounts before June 30, 2011.

  • South Korea's foremost telecoms firm in talks to sell its Russian unit, New Telephone Company

    Reuters Friday reported that South Korea’s foremost telecoms firm, KT Corp. is mulling the sell of its Russian subsidiary, New Telephone Company (NTC). KT Corp. is South Korea’s top fixed-line and No.2 mobile company.

    The plans were revealed Friday by KT Corp chief executive in an interview with Reuters. Last year, speculation had been rife that KT had appointed Credit Suisse to sell an 80 per cent stake in NTC for some $500 million. KT Corp. bought the stake in NTC in 1997.

  • CGGVeritas purchases Moscow based Petrodata Consulting LLC

    CGGVeritas has purchased Moscow based Petrodata Consulting LLC, provider of static and dynamic reservoir modeling, reserve estimation and risking, and field development services to the international oil and gas industry.

    The acquisition of Petrodata further strengthens the reservoir services of CGGVeritas, via Hampson-Russell Software & Services, offering seamless, fully integrated reservoir studies and field development planning.

  • NLMK takes full control of rolling assets in its joint venture with Duferco

    Russia’s largest steel producer, NLMK, is to purchase a 50% interest in Steel Invest and Finance (SIF) from Duferco Group. The investment is for an all cash consideration of $600 million, payable in four equal annual installments.

    SIF becomes a 100% owned subsidiary of NLMK. The Company will finance the transaction out of existing cash funds. The transaction is subject to customary regulatory approvals in the EU and is expected to close in Q2 2011.

  • Nanostart AG launches nanotechnology fund in Russia

    Nanostart AG is to launch a Russian nanotechnology fund to support investments in the subsector. Nanostart is launching the Russian fund in conjunction with Russian company RUSNANO and the Governor of the administrative district of Perm, stated an announcement Wednesday.

  • Russia's planned $10 billion private equity fund will be mostly funded by foreign capital, says official

    According to Reuters, Russia’s planned $10 billion private equity fund is to be funded majorly by foreign capital, lured by targeted returns of up to 20 per cent from investing in industries such as technology and pharmaceuticals. Reuters quoted a senior Russian official speaking over the investment plans during the weekend. 

  • NIBE Industrier AB acquires remaining 25 per cent of Russian firm CJSC EVAN

    NIBE Industrier AB has, in accordance with previous plans, acquired the remaining 25 per cent of shares in the Russian company, CJSC EVAN, located in Nizhny Novgorod, 400 kilometers east of Moscow. As a result of this transaction, EVAN is now a wholly owned subsidiary of NIBE and forms part of the NIBE Energy Systems business area.

    NIBE acquired an initial 25 per cent stake in EVAN in 2007, followed by further tranches of 26 per cent and 24 per cent in 2008 and 2009 respectively.

  • Russian search engine company Yandex LLC to invest in domestic and foreign start ups

    Yandex has launched a startup investment program, Yandex.Factory. The program offers funding opportunities to Russian and international projects.

    Yandex will finance startup projects with demonstrated potential in their seed or early investment stage. The company is ready to fund a project’s technology or product development with up to hundreds of thousands US dollars.

  • International Paper affiliate acquires Russian logging company ZAO Tikhvinsky Komplexny Lespromkhoz

    UPM and International Paper have signed an agreement for the sale of UPM's ownership in the Russian logging company ZAO Tikhvinsky Komplexny Lespromkhoz. Under the agreement, the operations, permanent personnel and logging license covering 184,000 hectares of forest area in Tikhvin in the Leningrad oblast will transfer to International Paper Russia Holding B.V.

  • Beijing Automobile Works mulling investment of upwards of $100 million in Russia

    China’s foremost auto manufacturer Beijing Automobile Works is mulling the investment of upwards of $100 million in the Russian auto sector, indicated reports. Under the plans, the Chinese firm will undertake the investment via a joint manufacturing venture in Russia’s Ulyanovsk expanse.

  • Russian Helicopters to raise $500 million in a Moscow-London initial public offering

    The Financial Times (FT) Tuesday reported that Russian Helicopters is to raise $500 million in a Moscow-London initial public offering, as the Kremlin opens up state-controlled industries, including the defense sector, to foreign investment.

  • Russian entrepreneur Alexander Rodnyansky acquires 51% of A Company

    Russian film company AR Films, owned by the producer and media entrepreneur Alexander Rodnyansky, acquired 51% of A COMPANY Consulting & Licensing AG – one of the biggest film licensing and distribution corporations in Central and Eastern Europe.

  • Air Liquide Group signs new agreement with Russia’s leading steel producer, Severstal

    France based firm Air Liquide Group, announced last week the signing of a new long-term agreement with Severstal, Russia’s leading steel producer. Under the new agreement, Air Liquide will supply oxygen, nitrogen and argon to Severstal’s new steel plant in Balakovo, located in the region of Saratov (Volga Federal District).

  • Russia dissatisfied with level of US investment in the country, says Deputy PM

    Russian Deputy Prime Minister Sergei Ivanov said the level of US investment in Russia is dissatisfying, given the level of commitment Russia has shown towards tackling corruption and enforcing the rule of law. Sergei Ivanov was speaking in New York, at the Council on Foreign Relations, in which he reiterated Russia’s commitment to reinstituting improved economic ties with the US.

  • Mefro wheels acquires steel wheel production from Russia’s leading truck manufacturer KAMAZ

    Mefro wheels GmbH Thursday announced it has signed an agreement with Russia’s KAMAZ AG for the acquisition of the Russian firm’s steel wheel production business. Another Germany firm, Daimler AG currently holds an 11 per cent stake in KAMAZ. KAMAZ is Russia’s leading truck manufacturer.

  • Russia’s Sibur Holding picks up 26.3 per cent stake in Cherepovetsky Azot

    SIBUR has reached an agreement for the acquisition of a 26.3 per cent stake in Cherepovets "Azot" from a group of investors. The acquisition is aimed at improving the current capitalization of SIBUR business with respect to the production of mineral fertilizers.

    The company's strategy to phase out the non-core lines of the business through their sale or merger with other producers of nitrogen fertilizer has not been changed. The deal is expected to be concluded following the approval from the appropriate regulatory authorities.

  • Marfin Popular Bank fully acquires its Russian subsidiary OJSC RPB Holding

    The Financial Mirror reported that Marfin Popular Bank is to fully acquire its Russian subsidiary OJSC RPB Holding. The Marfin Popular Bank is the second largest lender in Cyprus. The Russian subsidiary is the owner of Rossiysky Promyishlenny Bank (Rosprombank) and OOO RPB Leasing. The investment is for a consideration of 51.6 million euros, around US$72.6 million.

  • MTS Group purchases 100 per cent of Inteleca Group of companies

    Mobile TeleSystems OJSC, the leading telecommunications provider in Russia and the CIS, announced that MTS Group has acquired 100% in Inteleca Group of companies. The Inteleca group of companies is an alternative operator in the cities of Barnaul and Biysk in Altai Krai of the Siberian Federal District. MTS Group will acquire the business from a group of private investors.

  • Russia's FAS approves $24 billion merger between major fertilizer producers Uralkali and Silvinit

    The Russian Federal Antimonopoly Service (FAS) has approved a $24 billion merger between major fertilizer producers Uralkali and Silvinit. The merger is currently frozen due to a court injunction. In a statement Monday, Uralkali said the merger had been approved after it fulfilled its competition requirements.

  • Ukraine’s leading poultry producer mulling purchase of assets in Russia

    Ukraine’s leading poultry producer Agroholding Mironovsky Hliboproduct (MHP) is mulling the purchase of Russian assets, reported According to Usapeec, Yuri Kosyuk, Chairman of the Board of MHP said the firm is currently on the lookout for potential acquisition investments in Russia.

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