Goldman Sachs said to have bought stake in Russian online recruitment firm

By Andrei Skvarsky.

Goldman Sachs is said to be among investors that have bought out online recruitment agency HeadHunter (hh.ru) from Mail.Ru Group, a leading Russian Internet company listed on London Stock Exchange, for 10bn roubles (about $145.5m at the current market exchange rate).

HeadHunter, which operates in Russia, Ukraine, Kazakhstan, Belarus and Azerbaijan and has more than 20m resumes in its database, was sold to a consortium ed by Russian private equity firm Elbrus Capital, East-West Digital News (EWDN), a news agency specialising in Russian digital industries, said, citing Russian business daily Vedomosti.

Goldman Sachs declined to confirm it had been part of the consortium, EWDN said.

The sale was completed in late February. Mail.Ru has already received 5.5bn roubles and is due to be paid the rest by the end of April, the agency said.

The deal had been announced in late 2014 but was delayed as Western investors were afraid to join the consortium because of Russia’s domestic economic woes and its international problems, according to EWDN.

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