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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.

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