Correspondent, New York
Megan's Feed
Dec 29, 2011

VTB Bank buys iron ore stake

MOSCOW, Dec 29 (Reuters) – Russia’s second-largest
lender VTB has bought a 20 percent stake in
Metalloinvest, the country’s largest iron ore miner part-owned
by Alisher Usmanov, one of Russia’s richest men.

The deal is valued at about $2.5 billion, according to a
press release issued by law firm Dewey & LeBoeuf, which said it
advised on the deal. That would imply a value for Metalloinvest
of about $12.5 billion.

Dec 16, 2011

Analysis: Russian firms eye M&A from London launchpad

MOSCOW (Reuters) – Russian companies moving to London are expected to start making use of their new-found acquisition currency as they seek a higher international profile — or a route to cash out — after their stock market listings.

The wave of recent arrivals were geared towards boosting share liquidity and protecting ownership rights. But gaining a premium London listing also opens up the possibility of large deals, giving a liquid currency to buy assets.

Dec 16, 2011

Russian firms eye M&A from London launchpad

MOSCOW, Dec 16 (Reuters) – Russian companies moving to
London are expected to start making use of their new-found
acquisition currency as they seek a higher international profile

– or a route to cash out — after their stock market listings.
– or a route to cash out — after their stock market listings.

Dec 12, 2011

IT services firm Epam eyes U.S. IPO in first quarter: sources

MOSCOW/NEW YORK (Reuters) – Epam Systems Inc, an IT services provider with operations in Russia, is aiming to move ahead with its planned U.S. initial public offering in the first quarter of next year, two sources familiar with the situation said on Monday.

Epam filed with U.S. regulators in June to raise up to $100 million in an initial public offering of its common stock. The company did not reveal how many shares it planned to sell or their expected price, but said at the time it would use the proceeds for acquisitions and general corporate purposes.

Dec 6, 2011

Russian markets unnerved by post-election fallout

MOSCOW (Reuters) – Russian stocks and the rouble extended losses late on Tuesday as investors were unsettled by the political fallout from a drop in the ruling United Russia party’s majority at Sunday’s parliamentary election.

Markets were already trading lower on the day but extended losses sharply after Prime Minister Vladimir Putin said he would reshuffle the government after he seeks re-election to the presidency next March.

Dec 5, 2011

Russia power grid MRSK to list in London on Thurs

MOSCOW, Dec 5 (Reuters) – Russian power grid company
MRSK is scheduled to list its shares in London this
week, a move it hopes will boost the liquidity of its stock and
enable it to raise funds in the future, a company spokesperson
said.

The technical listing, in which no money is raised, will see
MRSK list 25 percent of its stock as global depositary receipts
– the maximum allowed — on Thursday.

Nov 30, 2011

Severstal to spin off gold unit, eyes listing

MOSCOW/LONDON (Reuters) – Russian steelmaker Severstal (CHMF.MM: Quote, Profile, Research, Stock Buzz) is set to spin off its Nord Gold unit and could list the standalone business in London, it said on Wednesday, less than a year after being forced to pull a planned $1.5 billion public offering.

Severstal, which aims to complete the separation by late January, said on Wednesday the swap and potential listing of global depositary receipts would allow it and Nord Gold to focus on their core areas of activity, raise the profile of the gold unit and allow it direct access to funding.

Nov 30, 2011

Severstal to spin off gold unit, eyes IPO

MOSCOW, Nov 30 (Reuters) – Russian steelmaker
Severstal is set to spin off its Nord Gold unit and
could list the standalone business in London, it said on
Wednesday, less than a year after it was forced to pull a
planned $1.5 billion public offering.

Severstal, which aims to complete the separation by late
January 2012, said the swap and potential listing of global
depositary receipts would allow Nord Gold and Severstal to focus
on their core areas of activity, raise the profile of the gold
unit and allow it direct access to funding.

Nov 29, 2011

Russian Standard Vodka buys stake in rival CEDC

MOSCOW, Nov 29 (Reuters) – Vodka producer Russian
Standard Vodka, owned by billionaire Roustam Tariko, has bought
a 9.9 percent stake in Central European Distribution Corp
, a Polish rival which has lost more than 80 percent of
its market value this year.

CEDC, which holds a portfolio of some well known brands on
the Russian and Polish markets such as Absolwent and Parliament,
has twice slashed its outlook this year.

Nov 25, 2011

Russia’s LUKOIL Q3 net profit slumps on FX loss

MOSCOW, Nov 25 (Reuters) – Russia’s No.2 oil producer
LUKOIL on Friday reported a worse-than-expected 20
percent fall in third-quarter net profit, hit by foreign
exchange losses, higher taxes and lower production.

LUKOIL has been the only Russian oil major with declining
output, mainly due to moribund West Siberia assets, in contrast
to top producer Rosneft which in October touted an increase in
crude production to 2.4 million barrels per day.