Nov 13. VSMPO-Avisma Corporation, which is based in the Perm region and commands a third of the global titanium market, has acquired a 20% stake in Ka

Finamrus com 13.11.2007 14:32
http://www.finamrus.com/newtopics/news03C83/default.asp

VSMPO-Avisma Corporation, which is based in the Perm region and commands a third of the global titanium market, has acquired a 20% stake in Kamskaya Mining Company, a joint venture set up by Silvinit and Oboronimpex (an Oboronexport structure) that is engaged in extracting natural carnallite, a representative of the corporation's PR department told RIA Novosti. "Carnallite is the most important component for magnesium output. Thus, the purchase of a stake in Kamskaya Mining Company will enable VSMPO-Avisma to boost production of magnesium it needs to turn out titanium sponge" – the news agency reported. The corporation's spokesman declined to disclose the transaction price.

Nov 12. Sberbank has reapplied to the National Bank of Ukraine (NBU)

Finamrus com 12.11.2007 14:25
http://www.finamrus.com/newtopics/news03C73/default.asp

Sberbank has reapplied to the National Bank of Ukraine (NBU) seeking permission to acquire Ukrainian bank NRB (Kyiv), the Ukrainian bank's executive board chairman Vladislav Kravets told Interfax-Ukraine. "On November 6 Sberbank reapplied to NBU seeking authorization to take over NRB. A relevant decision could be taken within 30 days" – the banker said. As the media wired earlier, in late September NBU refused to allow Sberbank to buy the bank, as the package of documents did not meet the requirements of Ukrainian laws. Before this, Sberbank obtained authorization from the Bank of Russia to purchase 100% of the Ukrainian bank's charter capital. Sberbank intends to take over NBR for $150 mln.

Nov 9. Gazprom and British oil major BP are discussing TNK-BP's future

Finamrus com 09.11.2007 14:03
http://www.finamrus.com/newtopics/news03C63/default.asp

Gazprom and British oil major BP are discussing TNK-BP's future after a moratorium on the sale of TNK-BP stocks expires, a source familiar with the situation told the Petroleum Information Agency (PIA). TNK-BP spokesmen declined to comment, noting they are not entitled to make comments on the topic, as at issue are the shareholders and their decisions. Representatives of TNK-BP shareholders also declined to comment. Meanwhile, TNK-BP CEO Robert Dudley numerously voiced his confidence that the company's shareholding structure will not undergo any changes in the near future. He emphasized that the company's executives did not address this problem.

Nov 7. Gazprom and Gasunie signed Tuesday an agreement

Finamrus com 07.11.2007 13:07
http://www.finamrus.com/newtopics/news03C4C/default.asp

Gazprom and Gasunie signed Tuesday an agreement that provides for assigning to the Dutch concern a 9% working interest in the Nord Stream gas pipeline. As Gazprom CEO Alexey Miller told the media after the signing ceremony, Gasunie will get a 4.5% stake in the project from each German partner. Miller emphasized that Gazprom, in turn, will obtain a 9% working interest in BBL, a project to build a sea gas pipeline from the Netherlands to the UK.

Nov 2. Tinkov's bank has floated 40% of the debut bond issue at the start of the second week of placement.

Finamrus com 02.11.2007 13:09
http://www.finamrus.com/newtopics/news03C26/default.asp

Tinkov's bank has floated 40% of the debut bond issue at the start of the second week of placement. As of November 1, 2007 Bank Tinkoff Credit Systems (TCS Bank) sold 1-series bond on MICEX Stock Exchange for Rub 600 mln, head of the fixed-income instruments sales department at Deutsche Bank Vadim Martynenko told Interfax-AFI. For the record, Deutsche Bank acts as one of the arrangers.

Oct 29. After the Russia-EU summit EDTM head Elvira Nabiullina and EU Trade Commissioner Peter Mandelson signed an agreement

Finamrus com 29.10.2007 14:33
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After the Russia-EU summit EDTM head Elvira Nabiullina and EU Trade Commissioner Peter Mandelson signed an agreement between Russia and the EU on the trade of some steel products in the presence of Russian President Vladimir Putin. For the record, in late June the Russian government issued a resolution on the conclusion of trade agreements with the EU involving some steel products. In line with the arrangements, Russian steel supplies to the EU are expected to rise 15% compared to 2006 and marginally expand the mix of export items in 2008.

Oct 26. Deutsche Bank raises Severstal-Avto target price 7%, reiterates Buy.

Finamrus com 26.10.2007 16:03
http://www.finamrus.com/newtopics/news03BDD/default.asp

Deutsche Bank has lifted its target price for Severstal-Avto’s stocks from $51.50 to $55.30, the bank’s analysts said in an equity research note. The Buy recommendation on the stock was left intact. DB analysts revised Severstal-Avto’s valuation model on the back of impressive performance exhibited by the company in January-June 2007.

Oct 25. AFK Sistema has penned an agreement to purchase a 41% stake in Shyam Telelink Ltd.

Finamrus com 25.10.2007 13:05
http://www.finamrus.com/newtopics/news03BC3/default.asp

AFK Sistema has penned an agreement to purchase a 41% stake in Shyam Telelink Ltd. , enabling it to raise its stake in the company to 51%, the holding said in a statement. Also, AFK Sistema entered into an option agreement whereby it could increase its equity position in Shyam Telelink from 51% to 74%. The fulfillment of the agreement and the option is driven by the approval obtained from India's Foreign Investment Promotion Board (FIPB). The price of the deal to buy up 51% of Shyam Telelink will total $58.1 mln.

Oct 23. Russia does not support imposing restrictions on investments using cash from national welfare funds

Finamrus com 23.10.2007 14:12
http://www.finamrus.com/newtopics/news03BA9/default.asp

Russia does not support imposing restrictions on investments using cash from national welfare funds, vice PM and finance minister Alexey Kudrin said at a press conference. "The official position of those countries that invest money from these funds is to have no restrictions. We are interested in entering global markets without any hitches, as a result of which I think the elaboration of comprehensive, not mandatory, but recommendable rules as a code is possible in principle, but only if they suit all the countries that invest cash from national welfare funds" – Kudrin emphasized.

Oct 22. The Bank of Russia does not rule out raising the refinancing rate by the end of 2007

Finamrus com 22.10.2007 15:10
http://www.finamrus.com/newtopics/news03B97/default.asp

The Bank of Russia does not rule out raising the refinancing rate by the end of 2007, first deputy CBR chairman Alexey Ulyukaev said Friday at the conference "The Russian Banking Sector: Growth Factors". "The refinancing rate is a symbolic position linked with inflation and we should and apparently will raise the refinancing rate" – he said. As wired earlier, CBR forecasts 2007 inflation at 9.5-10%. At present, the refinancing rate stands at 10%.

Oct 19. Russia will see no banking crisis or monetary reform,

Finamrus com 19.10.2007 14:49
http://www.finamrus.com/newtopics/news03B86/default.asp

Russia will see no banking crisis or monetary reform, Russian President Vladimir Putin announced. "Will there be any banking crisis in Russia? No, it won't. Will Russia see a monetary reform? No, such plans do not exist" – the President said Thursday responding to the questions put by the Russians in a live TV and radio show.

Oct 15. The candidature to Sberbank's CEO position is to be defined this week

Finamrus com 15.10.2007 13:06
http://www.finamrus.com/newtopics/news03B47/default.asp

The candidature to Sberbank's CEO position is to be defined this week, CBR head Sergey Ignatiev told the media Monday. "The candidature will be clear this week" – he said. The Supervisory Council at Sberbank will address at Tuesday's meeting the issue of calling an EGM due to the bank's management reshuffle, an informed source in the Central Bank told RIA Novosti Thursday. According to the same source, the supervisory council's meeting is slated for 3 p.m. October 16.

Oct 12. Norilsk Nickel's BoD remains unchanged.

Finamrus com 12.10.2007 16:50
http://www.finamrus.com/newtopics/news03B3D/default.asp

In the course of the EGM it became known that the lineup of Norilsk Nickel's Board of Directors remained intact. Only 67% of the metal major's shareholders attended the meeting and only 3.5% of them voted for the reelection of the board. The EGM was spearheaded by Mikhail Prokhorov who was not elected to the new BoD early in the year and he presently has no representatives in the metal producer's BoD.

Oct 11. No ADRs to be issued on stocks of companies to be spun off from UES.

Finamrus com 11.10.2007 17:04
http://www.finamrus.com/newtopics/news03B2E/default.asp

American Depositary Receipts (ADRs) will not be issued on stocks of utility companies to be unbundled from UES in the course of the second phase, director of the energy holding's strategy department Dmitry Akhanov told reporters in Moscow Thursday. "No ADRs will be floated for sure" – he said. Four gencos (TGC-8, TGC-9, Kuzbassenergo and TGC-4) will hold SPOs by the end of the year. Meanwhile, Kuzbassenergo's stock placement will take place as a standard initial public offering with stocks to be sold to a wide group of investors, while TGC-8, TGC-9 and TGC-4 will place shares in favor of strategic investors. "Interest in TGC-4 stocks is enormous. Potential buyers are not only foreign companies, but also domestic investors as part of consortiums formed with foreigners" – Akhanov said.

Oct 9. Gazprom CEO to meet the Serbian prime minister.

Finamrus com 09.10.2007 12:54
http://www.finamrus.com/newtopics/news03B04/default.asp

The Russian gas holding's delegation led by executive board chairman Alexey Miller is on a visit in Serbia Tuesday. As the Serbian governmental press office reported, a meeting is scheduled for Tuesday between Miller and Serbian Prime Minister Voislav Kostunica. As news agencies wired earlier, the plan is to lay one of the South Stream gas pipeline's offshoots through Serbia. The gas pipeline will run from Russia's Black Sea coast to Bulgaria, then running on to southern Italy and towards Central Europe.

Oct 5. TNK-BP floated Wednesday 5-year Eurobond worth $600 mln yielding 7.5%

Finamrus com 05.10.2007 13:04
http://www.finamrus.com/newtopics/news03ADA/default.asp

TNK-BP floated Wednesday 5-year Eurobond worth $600 mln yielding 7.5% and 10-year Eurobond with a 7.875% yield, a source in the banking circles told Interfax-AFI. The first tranche was placed at 99.166% of par value and the second at 98.728%. The yield rate of the first tranche is US Treasuries + 345 basis points and US Treasuries + 350 basis points for the second tranche. Both bond issuers bear semiannual coupons.

Oct 4. Volga-Dnepr Group could hold an IPO in Q208 to place 18% of its stocks

Finamrus com 04.10.2007 12:03
http://www.finamrus.com/newtopics/news03AC6/default.asp

Volga-Dnepr Group could hold an IPO in Q208 to place 18% of its stocks, the group's chief executive Alexey Isaikin told Interfax. Earlier Volga-Dnepr said it rolled back the IPO for an indefinite period of time because of the unsettled corporate feud with Kaskol Group. "Our IPO plans are valid, but no decision on a trading venue has been adopted so far" – Isaikin said. In line with earlier news wires, on August 14, 2007 Volga-Dnepr made an official statement that Volga-Dnepr management upped its stake in the air carrier, it controls, to 80% after it agreed to buy out shares of the company's minority shareholders.

Sept 28. Severstal makes a takeover offer to Celtic at 2.70 pounds per share.

Finamrus com 28.09.2007 20:13
http://www.finamrus.com/newtopics/news03A8C/default.asp

Severstal-Resource (which runs Severstal’s mining assets) has made an official takeover offer to Celtic Resources Holdings. As Severstal said in a statement released Friday, the offer stands at 2.70 pounds per share. At present, Severstal holds a 29.7% stake in the Irish company. The statement of the Russian metal maker specifies that an additional 3.1% stake in Celtic was acquired from DWS Investments Friday, but no transaction price was disclosed. “We have received confirmation that Barrick Gold, which holds a 6.6% interest in Celtic, will back our takeover offer” – the statement emphasized. Severstal points out that the price of the takeover offer is 43.6% higher than the market value of the Irish metal producer’s shares over the past 3 months. Given the price offered by Severstal, the market cap of Celtic Resources Holdings is estimated at 161 mln pounds sterling. Shortly after Severstal’s announcement of the takeover offer Celtic stocks rallied 13% on LSE.

Sept 27. VTB set to propose swapping VTB North West stocks for those of VTB at the earlier approved ratios.

Finamrus com 27.09.2007 17:02
http://www.finamrus.com/newtopics/news03A77/default.asp

VTB plans to propose swapping VTB North West stocks for those of VTB at the earlier approved ratios, VTB CEO and board chairman Andrey Kostin said at a press conference Thursday. "We have plans, if the supervisory council backs, to make an offer to VTB North West's minority shareholders to swap their holdings for VTB securities at the ratios that were specified earlier" – he said.

Sept 26. International rating agency Standard & Poor's has affirmed Moscow's long-term foreign currency obligations credit rating at BBB+

Finamrus com 26.09.2007 13:13
http://www.finamrus.com/newtopics/news03A5C/default.asp

International rating agency Standard & Poor's has affirmed Moscow's long-term foreign currency obligations credit rating at BBB+, the agency said in a press release. The rating carries a stable outlook.