Correspondent, New York
Megan's Feed
Mar 14, 2012

Russia’s Vekselberg may sue RUSAL in oligarch row

MOSCOW (Reuters) – Russian billionaire Viktor Vekselberg is considering suing RUSAL 0486.MM over accusations that he failed to fulfill his duties as its chairman, intensifying a battle with rival oligarch Oleg Deripaska at the world’s largest aluminum producer.

A lawsuit between two of Russia’s richest men would risk becoming a spectacle to rival a legal battle between two other oligarchs, Boris Berezovsky and Roman Abramovich, which gave an unflattering insight into the Russian business world. It could also be deeply embarrassing for RUSAL.

Mar 13, 2012

RUSAL chairman quits in Russian oligarch fight

MOSCOW (Reuters) – Russian billionaire Viktor Vekselberg quit on Tuesday as chairman of UC RUSAL (0486.HK: Quote, Profile, Research, Stock Buzz), the world’s largest aluminium producer, saying the heavily indebted company was in deep crisis after a long battle with rival oligarch Oleg Deripaska.

Vekselberg’s exit widens a rift with controlling shareholder Deripaska, who had sought to build a Russian metals and mining business on a global scale by merging RUSAL with Norilsk Nickel (GMKN.MM: Quote, Profile, Research, Stock Buzz), the world’s top nickel and palladium miner.

Mar 13, 2012

Aluminum giant RUSAL’s chairman quits, cites “deep crisis”

MOSCOW (Reuters) – Russian billionaire Viktor Vekselberg quit on Tuesday as chairman of the world’s largest aluminum producer, UC RUSAL (0486.HK: Quote, Profile, Research, Stock Buzz), saying the heavily indebted company was in deep crisis after a long battle with rival oligarch Oleg Deripaska.

Vekselberg’s exit widens a rift with controlling shareholder Deripaska, who had sought to build a Russian metals and mining business on a global scale by merging RUSAL with Norilsk Nickel (GMKN.MM: Quote, Profile, Research, Stock Buzz), the world’s top nickel and palladium miner.

Mar 6, 2012

Rusnano, US fund to invest $760 mln in pharma venture

MOSCOW March 6 (Reuters) – Russian state technology
firm Rusnano is teaming up with a U.S. venture fund to invest
around $760 million in a number of U.S. healthcare and
pharmaceuticals firms, establish a manufacturing facility in
Russia and bring new drugs to the Russian market.

As part of the deal, Rusnano and life sciences technologies
investor Domain Associates are planning to each invest $330
million in about 20 US-based healthcare technology companies.

Feb 27, 2012

Anti-Putin protesters form human chain in Moscow

MOSCOW (Reuters) – Thousands of Russians joined hands to form a human chain around Moscow city centre on Sunday in protest against Vladimir Putin’s likely return as president in an election next week.

The protesters stood side by side around the wide 16-km (10-mile) Moscow Garden Ring Road in gently falling snow, many of them wearing the white ribbons that symbolize the biggest opposition protests since Putin rose to power 12 years ago.

Feb 26, 2012

Thousands of Russians hold hands against Putin

MOSCOW (Reuters) – Thousands of Russians joined hands to form a ring around Moscow city centre on Sunday in protest against Vladimir Putin’s likely return as president in an election next week.

Many of the protesters who stood in a long line around the 16-km (10-mile) Moscow Garden Ring Road, despite gently falling snow, wore the white ribbons that symbolize the biggest opposition protests since Putin rose to power 12 years ago.

Feb 13, 2012

Barrick to sell out of Russia’s Highland Gold

LONDON/MOSCOW, Feb 13 (Reuters) – Canada’s Barrick
Gold, the world’s largest gold producer, plans to sell
its 20.4 percent stake in struggling Russian miner Highland Gold
, pulling out of one of the world’s most promising but
toughest gold frontiers.

Highland, backed by Russian tycoon Roman Abramovich, was
Barrick’s only Russian asset. The Canadian firm bought the stake
nearly 10 years ago for access to key projects that are still
only in development.

Feb 1, 2012

Goldman Sachs appoints new Moscow head-memo

MOSCOW Feb 1 (Reuters) – Goldman Sachs’ Italian
investment banking chairman is to take over as head of the
bank’s Moscow office, replacing the bank’s two co-heads,
according to an internal memo obtained by Reuters on Wednesday.

Paolo Zannoni is to succeed Chris Barter, an American, and
Frenchman Jean Raby, who were co-heads of the business in Russia
and the Commonwealth of Independent States, a group of ex-Soviet
countries.

Jan 30, 2012

Bourse deal kicks off Russian push for foreign cash

MOSCOW Jan 30 (Reuters) – Russia’s newest state fund
made its first investment on Monday, buying a stake in Moscow’s
MICEX-RTS bourse to boost its IPO hopes and compete with big
international centres like London for Russian company listings.

The $10 billion Russian Direct Investment Fund (RDIF), which
is government funded but run by private equity specialist Kirill
Dmitriev, is investing together with the European Bank for
Reconstruction and Development. The pair is buying a total stake
of 7.54 percent.

Jan 18, 2012

Ruspetro raises $250 mln in London IPO – sources

MOSCOW, Jan 18 (Reuters) – Russian oil explorer
Ruspetro will bank around $250 million from its London listing,
two sources familiar with the situation said on Wednesday,
defying choppy market conditions that have put paid to any
sizeable flotations in Europe since the summer.

Deepening concern over the euro zone in the past six months
has sent investors running for cover and forced most companies
to put on ice their plans for initial public offerings (IPOs) –
considered the riskier end of the share sale spectrum.