MOSCOW (Reuters) – Freed former tycoon Mikhail Khodorkovsky has ruled out trying to recover the fortune that made him Russia’s richest man, but two multi-billion-dollar law suits involving his defunct oil giant Yukos could be decided this year.
Pardoned by President Vladimir Putin in December after 10 years in jail for fraud and tax evasion, Khodorkovsky, 50, has bowed out of the ring, but the ex-managers and shareholders of Yukos fight on for compensation from the Russian Federation.
MOSCOW, Feb 3 (Reuters) – Russian hypermarkets retailer
Lenta is to list its shares in London, the company said on
Monday, potentially raising at least $1 billion and tapping the
demand from investors for consumer-focused businesses buoyed by
Russia’s rising middle class.
Such businesses have proven popular for overseas investors
with Russia’s second largest telecoms company Megafon
floating in London 2012, with the share price now 50
percent higher than its flotation price.
MOSCOW (Reuters) – Investment bank Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) is increasing its investment in an upscale chain of fitness clubs founded by a Russian former fencer, betting lifestyle spending will grow despite an economic slowdown and slide in the rouble currency.
Goldman’s Special Situations Group (SSG) has been clinching bite-sized deals in Russia, backing entrepreneurs looking to capitalize on the country’s rising middle class.
MOSCOW, Jan 29th (Reuters) – Russian hypermarket chain
Lenta, part-owned by U.S. private equity firm TPG,, may
proceed with its London initial public offering as early as next
week, three sources familiar with the matter said.
The company will be seeking to tap demand from investors for
consumer-focused stocks buoyed by a rising middle class,
although there are concerns about the impact Russia’s faltering
economy will have on spending.
MOSCOW, Jan 28 (Reuters) – Vimpelcom, Russia’s third
biggest mobile operator, said it would slash its dividend to pay
down debt piled up in an aggressive expansion drive, marking an
unexpected policy shift that spooked shareholders.
Vimpelcom’s expansion into Africa, Asia and continental
Europe left the group with more than $20 billion in debt,
according to its latest quarterly results. [ID nL5N0IR0PC]
MOSCOW, Jan 15 (Reuters) – Russian car sales fell in 2013
and face another weak year as a stuttering economy puts off
buyers, dealing a blow to western automakers that have invested
heavily in the country on the expectation it would soon become
Europe’s biggest car market.
A lobby group for Europe’s top carmakers said on Wednesday
sales of new cars in Russia fell 5.5 percent last year, bringing
three years of double-digit growth to an abrupt end.
MOSCOW, Dec 23 (Reuters) – All-purpose sport-utility
vehicles, offering prestige as well as protection from snow and
bad roads, are proving to be the bright spot in an otherwise
ailing Russian autos market, where overall car sales are down
around 6 percent so far this year.
“I cannot get enough XC60 at this moment,” said John Stech,
president and CEO of Volvo Cars in Russia, referring to the
Swedish firm’s luxury compact sports utility vehicle (SUV) which
retails in Russia from 1.5 million roubles ($45,600). Volvo is
owned by China’s Zhejiang Geely.
MOSCOW, Dec 23 (Reuters) – A year of disappointing auto
sales in Russia has dealers and carmakers worried that a
once-red hot market that was set to become Europe’s largest may
have slipped out of gear.
Stuttering economic growth, unhelpful demographic trends and
a coming increase in car capacity could dampen one of the few
bright spots in a global market that is under pressure.
MOSCOW (Reuters) – Japan’s Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) is to unveil its resurrected Datsun brand in Russia in April, seeking to lure young first-time buyers away from the used car market to its sub-400,000 rouble ($12,100) model.
Nissan retired the Datsun brand in 1981 but announced last year that it would relaunch the small car in emerging markets, targeting Indonesia, India, Russia and South Africa.
MOSCOW (Reuters) – Russian shares are expected to rise 6 percent in 2014, recouping only some of this year’s losses, as investors are lured by an attractive dividend yield and equity market valuation, a Reuters poll found.
Russia’s emergence as an equity value play follows a lackluster year. Investors, spooked by a slowing economy, shoddy treatment of minority shareholders and a Kremlin crackdown on political opposition, fled the country.