Vozrozhdeniye Q4 net profit down at 184 mln rbls y/y
http://www.reuters.com/article/2011/03/29/russia-vozrozhdeniye-results-idUSWLA661620110329
4:04am EDT
MOSCOW, March 29 (Reuters) - Vozrozhdeniye (VZRZ.MM: Quote, Profile, Research, Stock Buzz), a top-30 Russian lender, posted 184 million roubles ($6.50 million) net profit in the last quarter of 2010, the lender said on Tuesday.
Reuters poll of analysts expected net profit of 202.6 million roubles, down from 375 million roubles in the fourth quarter 2009. [ID:nLDE72O14S]
The full year net profit came at 581 million roubles, while analysts expected 594 million roubles.
(Reporting by Katya Golubkova, editing by Lidia Kelly)
AMCU permits Severstal to buy over 25pct in Severstal Ukraine
http://www.steelguru.com/russian_news/AMCU_permits_Severstal_to_buy_over_25pct_in_Severstal_Ukraine/197871.html
Tuesday, 29 Mar 2011
It is reported that the Antimonopoly Committee of Ukraine has permitted Russia OJSC Severstal to acquire a stake in the statutory fund of Dnipropetrovsk based Severstal Ukraine Ltd which would give the buyer over 25% of the votes in the management body of the company.
Severstal Ukraine which was founded in 2007 is a subsidiary of Russia OJSC Severstal. As of October 25, 2010 the key shareholders in the company were Severstal Trade GmbH with a 51% stake and Hektar Ltd.
Severstal decided from November 1, 2010 to unite two its companies in Ukraine Severstal Ukraine Ltd which is part of the sales division of Severstal Russian Steel and OJSC Dniprometyz.
Facebook’s Russian Investors Start Second Fund, Vedomosti Says
http://www.bloomberg.com/news/2011-03-29/facebook-s-russian-investors-start-second-fund-vedomosti-says.html
By Yuliya Fedorinova - Mar 29, 2011 6:41 AM GMT+0200
Russian billionaires Alisher Usmanov and Yuri Milner, who control 10 percent of Facebook Inc. through their DST Global fund, started a second fund to invest in Internet companies, Vedomosti reported.
DST Global 2, started with “several hundreds of millions of dollars,” owns shares in coupon website Groupon Inc. and may buy 5 percent of European online music site Spotify Ltd. for $50 million, the Moscow-based newspaper reported, citing unidentified people familiar with the matter.
To contact the reporter on this story: Yuliya Fedorinova at yfedorinova@bloomberg.net
To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net
TPG, VTB Seek Lenta Auction to End Russian Feud, Vedomosti Says
http://www.bloomberg.com/news/2011-03-29/tpg-vtb-seek-lenta-auction-to-end-russian-feud-vedomosti-says.html
By Yulia Fedorinova - Mar 29, 2011 6:51 AM GMT+0200
TPG Capital and VTB Capital, which control 30.8 percent of Russian supermarket chain OOO Lenta, challenged rival shareholder August Meyer to an auction to end their dispute over management of the company, Vedomosti said.
TPG and VTB want to bid against Meyer, who owns about 41 percent of Lenta, for all the shares held by the three entities, the Moscow-based newspaper said today, citing a letter TPG and VTB sent to Meyer. The auction would go in steps of $50 million, with a starting price based on a $2 billion valuation for the whole company, Vedomosti said.
To contact the reporter on this story: Yuliya Fedorinova at yfedorinova@bloomberg.net
To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net
RusForest acquires Nord Timber Group
http://www.ttjonline.com/story.asp?sectioncode=17&storycode=66225&c=2
29 March, 2011
Russian forestry and sawmilling business RusForest is acquiring the Nord Timber Group (NTG) in a move which will “jump-start” the former’s transition into a major world player.
RusForest, which is paying for the acquisition through a new issue of shares, said the purchase will increase its presence in north-west Russia.
Arkhangelsk-based NTG has forest leases exceeding 1.1 million ha of spruce and pine, said to be of similar quality to those found in northern Sweden. It also has an 80,000m³ per year capacity sawmill and a planing mill.
Following the acquisition, RusForest will control an annual allowable cut of about 2.8 million m³, positioning the company as one of the largest forest-controlling companies in Russia in terms of cutting rights.
RusForest expects its sawn wood output to grow to around to 800,000-850,000m³ per year over the next four to five years.
RPT-UPDATE 1-AFI Development makes 2010 profit, targets Moscow
http://in.reuters.com/article/2011/03/29/russia-afi-idINLDE72S0B220110329
12:25pm IST
(Repeats to additional Reuters clients)
* Posts FY $25.88 mln profit vs $2.66 mln loss in 2009
* Sees positive signs in Moscow 2011 real estate market
(Adds Chairman, company comment, detail)
MOSCOW, March 29 (Reuters) - Russia-focused Israeli real estate firm AFI Development (AFIDLq.L: Quote, Profile, Research) said on Tuesday it expects a positive year ahead for Moscow's recovering real estate market after returning to profit in 2010.
AFI, controlled by billionaire diamond dealer Lev Leviev, was hit hard by the real estate meltdown that froze Russian markets in 2008 and 2009 but restarted work on postponed major projects last year as the sector showed signs of recovery.
"We expect continued positive market trends throughout 2011 with Moscow, in particular, expected to benefit from further improvement in market conditions, resulting in higher growth in all real estate segments compared to other parts of Russia," the company said in the statement.
AFI raised its portfolio value 20 percent to $2.31 billion last year and made $25.88 million in profit as opposed to a $2.66 million loss the year before, mainly due to rising rental levels in Moscow.
The group also gained from the completion of flagship project AFIMALL City, a major new retail centre in Moscow and one of the largest new retail developments in Europe to open in 2011. [ID:nLDE7231I5]
"We look forward to 2011 as another year of growth in the Moscow property sector. We anticipate a significant level of rental revenue this year coming from our newly opened retail project AFIMALL City," Lev Leviev, chairman of AFI Development, said.
Leviev added the company plans to proceed with the development of its core project and will selectively activate new ones to meet consumer demand this year.
Africa Israeli Investments (AFIL01.TA: Quote, Profile, Research) became AFI's sole major shareholder with a 64-percent stake in January, after it bought general director Alexander Khaldey's 9.7-percent share for $129 million. [ID:nLDE70P0OA] (Reporting by Nastassia Astrasheuskaya, Editing by John Bowker)
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