Emerging Markets, Emerging Russia, Emerging Views
From the category archives:
By Ivan Anderzhanov in Moscow
Shari Redstone is partnering with Russian banking veteran Charlie Ryan to acquire Russian theatre operator Rising Star Media from National Amusements, the company controlled by her billionaire father Sumner Redstone.
Shari Redstone, co-founder of Rising Star and president of National Amusements, will be chairman of the new entity, while fellow Rising Star [...]
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By Ivan Anderzhanov in Moscow
The Russian government has unveiled a beauty parade of investment banks who will compete to take part in Russia’s first international bond issue in over a decade.
Russian investment bank VTB Capital is understood to have secured a role as one of the lead managers, alongside three bulge-bracket banks such as Goldman [...]
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By Marcus Williams
Kazakhstan’s Eurasian Bank has bought a Troika Dialog subsidiary bank in Almaty for an undisclosed amount in a bid to expand its business abroad.
Eurasian is controlled by the principal owners of London-listed Kazakh mining company Eurasian Natural Resources Corp.
Troika, which sold a third stake to South Africa’s Standard Bank in March, bought the [...]
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By Marcus Williams
Russian biotechnology company Human Stem Cell Institute (HSCI) yesterday sold 20% of its shares in an initial public offering (IPO) raising 143.5 million rubles ($4.8m) on the Micex exchange in Moscow.
HSCI sold 15 million additional shares at 9.5 rubles per share on the MICEX’s new sector for innovation and growth companies. Russia’s first [...]
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By Marcus Williams
Russian state development bank Vnesheconombank (VEB) has signed a partnership agreement with the Bank of Tokyo-Mitsubishi UFJ, Japan’s largest bank, to stimulate trade between the two countries.
The banks plan to develop their partnership in the support of exports and investment projects in Russia.
Under the agreement, the two institutions plan to promote cooperation in [...]
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By Ivan Anderzhanov in Moscow
Investment bank Renaissance Capital has advised clients on three M&A deals in the space of a week as green shoots of deal-making appear in Russia.
Rencap last week acted as exclusive advisor to Swedish-listed Malka Oil which sold its main production assets in Tomsk to GazpromNeft for $118m.
Bankers from Rencap and Canaccord [...]
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By Marcus Williams
State-controlled VTB Bank has exercised a call option to acquire 31.5 % of property developer Sistema-Hals from the diversified conglomerate group Sistema for a symbolic price of just 30 roubles.
Sistema-Hals and its parent have been heavily indebted to VTB, and agreed earlier this year to give VTB a 19.5% stake and a call [...]
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By Marcus Williams
A roster of investment banking heavyweights are biting at the leash following the news today that aluminum producer Rusal has concluded a debt restructuring deal on $7.4bn owed to Western creditors.
The agreement should pave the way for an initial public offering of as much as $2.5bn, or 10% of the company. Investment banking [...]
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By Marcus Williams
Russia’s St Petersburg Bank has raised $150m through the sale of additional preference shares at $3.1 per share which was the low end of the price range.
The placement was organised by bankers from Renaissance Capital and VTB Capital, according to a report in today’s Vedomosti.
The bank, ranked among Russia’s Top 30 by assets, [...]
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By Ivan Anderzhanov in Moscow
The European Bank for Reconstruction and Development (EBRD) has confirmed it will buy a 11.7 % stake in Russia’s privately-owned PromSvyazBank for 4.6 billion roubles ($159.4m).
Reports had been circulating since mid-October the the EBRD would take a minority stake in PromSvyaz.
Brothers Alexey and Dmitry Ananiev own almost 85% of Promsvyazbank, while [...]
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By Rustam Botahev, Senior Analyst at Unicredit Securities
Bank Saint Petersburg plans to raise $200m in a placement of convertible preferred shares, Bloomberg reports. The announced price range for the issue is $3.1-3.6, which implies a premium of 3%-19% to the Monday’s (the day before the announcement) closing price on MICEX of RUB 86.79 ( [...]
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By Ivan Anderzhanov in Moscow
Belgian financial group KBC Group is looking to sell Absolut Bank only two years after acquiring its key Russian asset for $1bn.
Analysts suggested that the most likely buyer would be another foreign group keen to gain access to the Russian banking sector.
KBC needs to slash the size of its business by [...]
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