Mail.Ru Group invested in Israeli-based Cortica Ltd. Cortica is the pioneer of a new approach to computer-driven understanding of images and videos through its unique and proprietary Image2Text™ technology. Mail.Ru Group is investing $1.5 million in Cortica in order to support and access its Image2Text™ technology. This investment is a part of the larger round… Continue Reading
Category Archives: Deals
Sberbank lends $250m to leading producer of titanium
By Andrei Skvarsky. Sberbank, Russia’s largest bank, has lent $250m to Russian company VSMPO-AVISMA, a leading producer of titanium with Airbus, Rolls-Royce, General Electric and Boeing among its customers. The deal was arranged by Sberbank CIB, the bank’s investment arm. “The structure of the deal enabled the borrower to optimise its debt burden and allowed… Continue Reading
East Capital Real Estate signs new deal in Riga
East Capital Baltic Property Fund II has acquired a retail property in Riga, which is long term leased to Prisma Hypermarket (‘Prisma’). The property is located on Deglava street in Riga, one of the main traffic arteries eastbound from the city, and in the middle of a densely populated residential area. The retail property has… Continue Reading
iTech Capital invested in Garpun
Russian iTech Capital has invested US$ 3.5 mln in a solution for professional online ad management. Russian ad tech startup Garpun which developed a box solution to provide digital agencies and corporate advertisers with a full set of tools for professional online ad management, has raised $3,5 million in its first round of funding. The… Continue Reading
AB InBev, CVC Capital in legal battle over StarBev sale earn-out
CVC Capital Partners has found itself in legal hot water with its only new investment in the CEE region – the deal with Anheuser-Busch InBev and StarBev. CVC’s sale of StarBev to Molson Coors in April 2012 has triggered AB InBev to claim earn-out money. However, CVC claims that during the holding period, it invested “heavily” in brand development, marketing and… Continue Reading
EBRD boosts renewable energy sector portfolio in Ukraine
The EBRD continues promoting and supporting renewable energy projects in Ukraine aimed at reducing the environmental impact of traditional power generation. Renewable energy is yet to establish itself as a major contributor to Ukraine’s energy security but it is starting to play a greater role in its sustainable energy supply. The latest renewable energy project… Continue Reading
Sberbank lending $239.5m for de luxe real estate project
By Andrei Skvarsky. Sberbank, Russia’s largest bank, has signed a deal with a developer to open a 7.5bn-ruble ($239.5m) five-year credit line for building a de luxe residential compound in Moscow. The loan was arranged for Moscow-based development company Restavracia N by Sberbank CIB, the lender’s investment arm. A total of more than 14bn rubles… Continue Reading
4D Global Energy Advisors invest $17M in Aladdin Middle East
As part of a funding round of USD20 mln initiated by Turkey-focused oil and natural gas company Aladdin Middle East (AME), 4D Global Energy Advisors have invested USD17 mln through its Fund III. The remainder of the funding was provided by the founders of AME, who continue to be majority stakeholders in the company. The funding will primarily be used… Continue Reading
VTB Capital acquires stake in largest satellite TV operator in Russia
VTB Capital has acquired a minority stake – pegged at 25 per-cent plus one share – in Tricolor TV, Russia’s biggest satellite television operator. The investment amount is deduced to be in the range of between USD125 and USD175 mln, valuing the operator as as much as USD700 mln. The valuation is considerably lower than last… Continue Reading
Rusnano to invest in next gen microprocessors
Rusnano, Russia’s largest nanotech company 100% owned by the state, announced last week that its board of directors has approved the funding of a project aimed at developing and commercializing next gen high-capacity energy-efficient microprocessors based on advanced nanotechnology (max. 28 nanometer design rule). Rusnano didn’t disclose the name of the company to further the project; nor… Continue Reading
Financing Sustainable Energy Investment for Bulgarian Business
Raiffeisenbank (Bulgaria) EAD and the European Bank for Reconstruction and Development (EBRD) have signed a second line of credit under the Bulgarian Programme for Energy Efficiency and Renewable Energy (BEERECL). This will allow Raiffeisenbank (Bulgaria) to expand financing for sustainable energy investment by private companies in Bulgaria. The EBRD loan of €7.5 million will be… Continue Reading
CapMan Russia Closes First €97M on Fund II, EBRD Commits Additional €20
CapMan Russia made a first close worth EUR97 mln on its newly established CapMan Fund II late March. Nearly 3 per cent of that investment has been made in-house – by the investment team at CapMan Russia and by CapMan Plc – while the remaining has come from 10 other new and existing Limited Partners. The fund will… Continue Reading
AVentures Capital invests in network software developer nuPSYS
AVentures Capital has acquired a minority equity stake in nuPSYS, the world’s leading visual network software developer. AVentures Capital and nuPSYS, Inc, didn’t disclose the financial details of the Series A deal to the public. AVentures was the lead investor in the round, whereas nuPSYS is in talks with international investors to increase the size… Continue Reading
iTech Capital invested in Garpun
Russian ad tech startup Garpun which developed a box solution to provide digital agencies and corporate advertisers with a full set of tools for professional online ad management, has raised $3,5 million in its first round of funding. The round was led by Moscow-based iTech Capital PE & VC fund. The funds will be used… Continue Reading
Elbrus Capital buys into Russian B2B-Center
Russian Private Equity firm Elbrus Capital, that manages two funds with total assets of over US$ 600 million, has acquired a significant minority stake of 23 per cent in B2B-Center, the largest operator of an online procurement marketplace in Russia. The procurement platform will use the funds to expand its operations and fortify its current market position. B2B-Center… Continue Reading
Sberbank taking over Citi’s retail business in Turkey
By Andrei Skvarsky. DenizBank, a Turkish operation of Russia’s biggest lender Sberbank, has clinched a deal to buy Citibank’s retail business in Turkey. DenizBank is taking over a network which, as of December 31, had gross assets and deposits that totalled 1.2bn Turkish lira (more than $650m) and 1.5bn lira (over $800m) respectively, more than… Continue Reading
Sberbank buying 12 Boeing 737 jets for leasing
Sberbank, Russia’s biggest lender, has signed a $1b deal to buy 12 Next-Generation 737-800 airliners from Boeing to be supplied to Russian airline Transaero under Russia’s first-ever agreement on the operational leasing of imported aircraft. Sberbank will provide its operational leasing customers with “modern, world-class finance solutions”, the bank and the U.S. aircraft industry giant… Continue Reading
J.P. Morgan, Credit Suisse named as IPO bookrunners for Russia’s Qiwi
Qiwi, the operator of one of Russia’s largest networks of electronic payment terminals, is considering an initial public offering of shares on NASDAQ in mid-2013 and has named J.P. Morgan and Credit Suisse as the bookrunners, according to investment intelligence website Invest IQ. Qiwi, which has not disclosed its share pricing plans, would offer up… Continue Reading
Sberbank, China’s "Big Four" AgBank to do business together
By Andrei Skvarsky. Russia’s biggest lender Sberbank and Agricultural Bank of China (AgBank), one of the Asian country’s four largest state-owned commercial banks, have signed a memorandum of understanding pledging cooperation in a wide range of activities. {{{*}}} Trade financing and ruble and yuan settlements are some of the business lines covered by the memorandum, signed… Continue Reading
Prokhorov's Onexim completes buyout of Renaissance Capital
By Andrei Skvarsky. Onexim, a major Russian investment fund owned by billionaire Mikhail Prokhorov, has completed the buyout of Russian investment bank Renaissance Capital. {{{*}}} The transaction, launched in September 2012, makes Onexim the sole owner of RenCap, according to a statement from the two companies. All necessary regulatory approvals have been obtained except for that from… Continue Reading
EBRD invests US$ 24.3 million in Egyptian white goods manufacturer
The EBRD is launching its first project with an Egyptian owned company and is now actively providing support to the four reforming economies in the Middle East and North Africa. The EBRD is lending 150 million Egyptian pounds (US$ 24.3 million) to Universal Metallurgical Company S.A.E. to finance the completion of a plant that will… Continue Reading
Moscow Exchange launching T+2 deferred settlement scheme
By Andrei Skvarsky. The Moscow Exchange is launching on March 25 a T+2 settlement system, an arrangement where payment for securities that have been bought must be made no later than two business days after the transaction. {{{*}}} The exchange plans to simultaneously continue using its current T+0 immediate payment scheme until the end of… Continue Reading
Moorgate Capital advises on $243m buyout of packaging maker
By Andrei Skvarsky. Investment consultancy Moorgate Capital advised on a 160m-pound ($243m) buyout in the European {{{*}}} packaging products industry, Nicholas Mockett of the London-based advisory firm told EmergingMarkets.me. The transaction involved the sale of Contego Healthcare, a European manufacturer of cartons, leaflets, labels and foils for pharmaceutical and healthcare companies, to Filtrona, a supplier of… Continue Reading
EBRD loan to restore and modernise steel production in Croatia
The EBRD is supporting the efforts to restart production at the steel factory in Sisak in central Croatia. The location has a long history of steel operations and has been a major employer. The Sisak Ironworks have been acquired by the Italian company Danieli and their steel company ABS, currently embarking on a restructuring and… Continue Reading
e-Baby commerce industry gets new investments in CEE region
In what can only be considered a boom to e-baby commerce, three independent investments have been made in companies that sell babies’ and children’s products in Europe. First, Russian VC ru-Net has invested USD 6 mln for a 25 per cent equity stake in Esky, a Russian portal that serves the young children’s market. Second investment comes in… Continue Reading
TA Ventures and Paradigm Investments participate in $2.5M Series A Round for prepaid card retailer IQcard
Paradigm Investments and TA Ventures have participated in Series A funding for IQcard, {{{*}}}} a pre-paid card operator in Russia according to Invest-IQ. IQcard is a Russian startup that allows people to purchase pre-paid cards for monetary transactions without the need to open a bank account. Founded in 2012 through the efforts of Fastlane Ventures, Direct Group and CEO Ekaterina… Continue Reading
White Square Office Centre in Moscow has a new owner
A consortium between leading developer AIG/Lincoln, Russian investment bank VTB Capital and global private investment firm {{{*}}} TPG Holdings (sellers) and the investment company O1 Properties, one of the largest owners and managers of a portfolio of high quality office properties in Moscow (purchaser), announce the completion of an investment transaction involving White Square, a… Continue Reading
Abris closes latest CEE fund on €450m
Abris has exceeded expectations to reach hard-cap for its Abris Capital Fund II {{{*}}} – despite no exits since the GP was founded in 2007. Abris Capital Partners has reached its hard-cap of €450m for a final close on its second fund targeting the CEE mid-market. A total of 21 investors came into the fund,… Continue Reading
Sberbank to lend PGP developer $218m for Moscow project
Sberbank CIB, the investment arm {{{*}}} of Russia’s biggest lender Sberbank, plans to open a 10-year $218m credit line for the PGP developer to build a multi-functional shopping and entertainment centre in Moscow. The plan is sealed in a preliminary agreement signed during this week’s MIPIM international real estate show in Cannes, France, Sberbank CIB… Continue Reading