Correspondent, New York
Megan's Feed
Nov 20, 2013

Metro eyes Russian unit IPO by second quarter of 2014

DUESSELDORF/MOSCOW, Nov 20 (Reuters) – Germany’s Metro AG
, aims to list up to a quarter of its Cash & Carry
Russia business in London by the second quarter of 2014, three
sources familiar with the deal said.

The initial public offering (IPO) is likely to value the
unit of Europe’s fourth-biggest retailer at 4 billion euros
($5.4 billion) or more, one of the sources said.

Nov 19, 2013

Exclusive: Germany’s Metro considers listing minority stake in Russian unit

MOSCOW/DUESSELDORF (Reuters) – Europe’s fourth-biggest retailer Metro AG (MEOG.DE: Quote, Profile, Research, Stock Buzz) is considering a stock market listing of a minority stake in its Russian unit to help fund its expansion, the company said on Tuesday, confirming an earlier Reuters story.

Metro, which has been restructuring its portfolio to cut debt and focus on core businesses, said it wanted to maintain long-term control, a spokesman said in a written statement, stressing no formal decisions had been made on the issue.

Nov 19, 2013

Russia’s Bashneft selects banks for London listing

MOSCOW, Nov 19 (Reuters) – Russian oil firm Bashneft
has selected banks to work on a planned secondary
listing in London that could take place as early as 2014, three
financial sources said on Tuesday.

Morgan Stanley, Barclays and Sberbank
are to work on the planned offering by the oil
production and refining group, controlled by Russian billionaire
Vladimir Evtushenkov through his oil-to-telecoms conglomerate
Sistema .

Nov 19, 2013

Germany’s Metro considers listing minority stake in Russian unit

MOSCOW/DUESSELDORF, Nov 19 (Reuters) – Europe’s
fourth-biggest retailer Metro AG is considering a
stock market listing of a minority stake in its Russian unit to
help fund its expansion, the company said on Tuesday, confirming
an earlier Reuters story.

Metro, which has been restructuring its portfolio to cut
debt and focus on core businesses, said it wanted to maintain
long-term control, a spokesman said in a written statement,
stressing no formal decisions had been made on the issue.

Nov 19, 2013

Exclusive – Germany’s Metro talking to banks about floating Russian unit

MOSCOW/DUESSELDORF (Reuters) – Europe’s fourth biggest retailer Metro AG (MEOG.DE: Quote, Profile, Research) is talking to banks about an initial public offering of its Russian unit, sources told Reuters on Tuesday, as it restructures its portfolio to cut its 6.3 billion euros (5.2 billion pounds) in net debt.

Market and banking sources said a stock offering for the Russian unit, which runs 70 big-box Cash & Carry outlets, could be worth more than $1 billion. Sources familiar with the matter said Metro would seek to keep a small stake in the business.

Nov 19, 2013

Germany’s Metro talking to banks about floating Russian unit

MOSCOW/DUESSELDORF, Nov 19 (Reuters) – Europe’s fourth
biggest retailer Metro AG is talking to banks about an
initial public offering of its Russian unit, sources told
Reuters on Tuesday, as it restructures its portfolio to cut its
6.3 billion euros ($8.5 billion) in net debt.

Market and banking sources said a stock offering for the
Russian unit, which runs 70 big-box Cash & Carry outlets, could
be worth more than $1 billion. Sources familiar with the matter
said Metro would seek to keep a small stake in the business.

Oct 22, 2013

Russia’s Tinkoff prices London IPO at top of range

MOSCOW, Oct 22 (Reuters) – Russian entrepreneur Oleg
Tinkov’s consumer credit firm TCS priced its London IPO
at the top of a target range and its shares gained 5 percent on
debut as investors bet on its ability to capitalise on
households’ growing appetite for debt.

TCS Holding Group, owner of Tinkoff Credit Systems, has
challenged state-controlled banks and grabbed market share in
the high-margin business of consumer credit. The company focuses
on Russia’s regions where it delivers credit cards by courier.

Oct 17, 2013

Russia’s VTB turns quick profit with Tele2 Russia deal

MOSCOW, Oct 17 (Reuters) – Russian bank VTB has
agreed to sell 50 percent of Tele2 Russia, turning a quick
profit and gaining investors with the expertise that could help
it to challenge the dominance of Russia’s big three mobile phone
operators.

VTB bought Russia’s fourth-largest mobile operator from
Sweden’s Tele2 in April for $3.55 billion.

Oct 10, 2013

Russia’s Aeroflot to launch budget airline Dobrolet

MOSCOW, Oct 10 (Reuters) – Russian carrier Aeroflot
plans to launch a low-cost airline next year, it said
on Thursday, aiming to make air travel more affordable in the
world’s largest country with fares up to 40 percent cheaper than
its current prices.

Dobrolet, which roughly translates to mean “Goodflight”,
will initially focus on domestic routes, starting next year with
several destinations for Muscovites including St Petersburg,
Samara and Ekaterinburg. But by 2016 it also aims to be flying
to Kiev and Istanbul.

Oct 7, 2013

SocGen buys VTB’s Rosbank stake in costly Russia turnaround

MOSCOW/PARIS, Oct 7 (Reuters) – France’s Societe Generale
is raising its stake in Russia’s Rosbank to above 90
percent, betting it can turn around the troubled Russian banking
unit even as rivals have quit a country where they could not
compete.

While players such as Citi and Austria’s Raiffeisen
thrive, many have found post-Soviet Russia too hard to
crack: rife with credit, legal and corruption risks, and
dominated by state giants Sberbank and VTB.