By Andrei Skvarsky.
CapMan, a Nordic private equity firm, has acquired 20% interest in Russian Internet service provider Siberian Networks and plans to boost the stake to 25% within months.
Siberian Networks projects a turnover of about 15m euros ($21.1m) for 2011. One of the leading Web service providers in Siberia with more than 100,000 subscribers, the company plans to build out its business with CapMan’s support, the Nordic firm said in a statement.
CapMan, which is based in Helsinki and has operations in Stockholm, Oslo, Moscow and Luxembourg, has assets of 3.4bn euros ($4.8bn) under management.
It operates in Russia via the CapMan Russia fund.
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