By Jason Corcoran Kazyna Capital Management, the private equity arm of Kazakhstan’s sovereign wealth fund, is combining with the European Bank for Reconstruction and Development (EBRD) to set up a $300m vehicle to invest in distressed companies. The fund will focus on financing of companies experiencing problems with repaying their debt. Its main task will… Continue Reading
Category Archives: Deals
Standard Bank raises $1bn from Chinese banks for Asian expansion
By Ivan Anderzhanov in Moscow Standard Bank, the emerging markets banking group, has raised $1bn loan facility with four major Chinese banks in Macau today. The four banks are Industrial and Commercial Bank of China (Macau) Limited; Bank of China; China Development Bank and China CITIC Bank. The club deal was self arranged by Standard… Continue Reading
Rencap's $612m Sistema bond mandate takes its recent dealfow over $2bn
By Jason Corcoran in Moscow Russia’s Renaissance Capital has been appointed as lead manager and bookrunner for a 20bn rouble bond ($612m) by conglomerate Sistema which caps a string of deals worth over $2bn during the past month. The Sistema rouble bond is the biggest of the year and beats the recent 15 billion ruble… Continue Reading
Credit Suisse and Merrill Lynch advise Sistema on $1.27bn Comstar deal
Investment banks Credit Suisse and Merill Lynch have have advised the conglomerate Sistema on the $1.2bn sale of a 50.9% stake in fixed-line telecoms provider Comstar UTS to mobile operator MTS. The deal between the two Sistema subsidiaries is scheduled to close at the end of October, while no decision has been made regarding the… Continue Reading
JP Morgan knocks Troika Dialog off its Russian M&A perch
Western investment bank JP Morgan has knocked Moscow brokerage Troika Dialog off the top M&A adviser perch in Russia during the first half of 2009, according to data provider Mergermarket. JP Morgan has so far advised on three deals with a total value of $6.2bn, while Troika lags in joint 12th position having only advised… Continue Reading
BLOG: VTB Capital targets Gulf's sovereign wealth billions
Jason Cororan in Moscow VTB Capital, the investment banking arm of state-controlled VTB bank, has hired ten staff for its new Dubai operation in a bid to lure sovereign Gulf money to Russia. The bank is attempting to set itself up as a conduit for Middle East sovereign wealth money which might be interested in… Continue Reading
EBRD bolsters Troika as banking system battens down the hatches
The European Bank of Reconstruction and Development has approved a $150 million five-year loan for Troika Dialog as part of the development bank’s $500m package to buttress Russian banks against a second wave of bad debt, which is expected to peak in two months time. The loan comes three months after South Africa’s Standard Bank… Continue Reading
Hires & Fires: Kandel quits Unicredit as Aton ramps up/ Blackrock parts company with Monoviski
By Taras Rybak in London Alexander Kandel, chief executive and head of investment banking at Italy’s UniCredit Securities in Moscow, is leaving the group just as it is engaged in a battle with Russian bank Aton for its staff. UniCredit said Kandel was leaving shortly for “personal reasons” to take some time out and would… Continue Reading
Renaissance Capital wins first mandate from Prokhorov
Renaissance Capital has come up with an M&A authorization for major shareholder Mikhail Prokhorov since he holds a 50%-minus one share in the bank. RenCap is advising Onexim, (Prokhorov’s investment vehicle); the same company that helped Prokhorov acquire a share in the bank last September on the purchase of 65% share in RBC Information Systems… Continue Reading