Emerging Markets, Emerging Russia, Emerging Views
From the category archives:
By Ivan Anderzhanov
Alfa Bank is to give property developer Mirax Group the go-ahead to complete construction of a Moscow skyscraper that will be the centrepiece of the city’s emerging business district.
The bank plans to invest invest around $240 million in Mirax to continue construction of the tower, planed as one of [...]
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By Ivan Anderzhanov
State Street Global Advisors, the US investment giant which terminated its seven-year Russian joint venture in 2005, today launched its first Russia ETF.
The Boston-based manager is one of only two fund managers offering investment exposure to Russia using Exchange Traded Funds.
The SPDR S&P Russia ETF seeks to track the performance of the S&P [...]
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By Ivan Anderzhanov
Russia’s state-controlled Sberbank is bidding for a 20.85% stake in Garanti Bank, Turkey’s largest bank, along with six other possible contenders.
Sberbank is making a bid for a $3.7bn stake being sold by General Electric as part of its strategy of expanding overseas, according to a Reuters report today.
The state-savings bank has previously earmarked [...]
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By Ivan Anderzhanov
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Germany’s Commerzbank has lifted its stake in Ukraine’s Bank Forum to 89.3% from about 63% after snapping up shares from investor Leonid Yurushev.
Commerzbank agreed to buy a stake of 26.25% for an undisclosed price that was indirectly held by Yurushev.
The German bank in September 2007 agreed to buy a majority stake in Bank [...]
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By Marcus Williams
Raiffeisen International is considering a merger with its Austrian parent group in a bid to reduce its funding and reduce exposure to the uncertain Central and Eastern European region.
The bank’s shares dropped as much as 10% following news on Tuesday of a possible tie-up.
Raiffeisen, the largest lender in Central and Eastern Europe, reported [...]
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By Marcus Williams
Societe Generale, France’s second largest bank, and its partner Interros today announced they are combining their banking operations in Russia.
Rosbank and BSGV, will be merged into a single unit but still retain two separate brands.
The new entity will have the specialised mortgage and consumer lending companies Rusfinance and Delta Credit as its subsidiaries.
Societe [...]
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By Marcus Williams
European Bank for Reconstruction and Development (EBRD) has agreed to sell its 15% stake in Swedbank Russia back its parent and major stakeholder Swedbank.
The deal will give Swedbank full ownership of its Russian subsidiary and comes after a five-year investment which saw the EBRD become a minority shareholder in March 2005 in what [...]
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By Ivan Anderzhanov
Bulge bracket bank Goldman Sachs was the big loser after last Friday’s annoucement of the banks to manage Russias upcoming sovereign eurobond issue.
Barclays Capital, Citigroup, Credit Suisse and domestic bank VTB Capital are arranging the deal, according to a statement from the Finance Ministry.
US bank Goldman Sachs had been involved in pre-marketing for [...]
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By Ivan Anderzhanov in Moscow
TNK-BP, the Anglo-Russian petroleum joint venture, yesterday mandated British banks Barclays Capital and Royal Bank of Scotland, along with France’s Calyon to manage the issue of Eurobonds worth $1bn.
The Russian state is expected to shortly name a roster of banks to manage the issue of $3-5bn in Eurobonds in its first [...]
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By Ivan Anderzhanov in Mosocw
The London Stock Exchange and the Micex today launched a Russian IPO information platform to serve the growing pipeline of Russian companies seeking to list overseas.
The site, which is located at www.RussianIPO.com, provides companies, advisers and market participants with access to trading information, news and statistics from Russia and the CIS [...]
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By Marcus Williams
Fast-growing Russian brokerage Otkritie has lured Temo Jorbenadze from VTB Capital as head of Investment Banking’s Financing Services Group.
Otkritie, which has doubled in size in the last year, also hired Dmitry Perman as a director from the Moscow-based boutique advisory firm Advance Capital.
Jorbenadze was a director for investment banking at VTB Capital in [...]
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By Marcus Williams in London
Russian aluminum maker UC Rusal today reportedly raised $2.24 billion from its Hong Kong and Paris initial public offerings, after the company priced the shares around the middle of the range indicated in marketing literature.
Bankers said the listing could led to a trickle of further Russian listings in Hong Kong but [...]
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