By Andrei Skvarsky.
A VTB Capital-led group of investors has bought advertising company News Outdoor Russia from Rupert Murdoch’s News Corp.
VTB’s partners in the deal were NOOH Investments Cooperatief and Marathon Outdoor Cooperatief. The former represented the interests of US entrepreneur Peter Gerwe, who has been building media companies in Russia and the CIS since the 1980s. The latter stood for the Alfa Capital Partners fund.
VTB Capital chairman Yuri Soloviev said the purchase “is the next step in implementing VTB Capital’s strategy to broaden our asset management business through direct investments into private companies”.
News Outdoor Russia, Russia’s largest outdoor advertising operator, was worth about $350m, excluding debt, according to Russian daily Kommersant.
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