Centrica inks deal with Gazprom September 20, 2012 ■ Utility Centrica yesterday signed a 2.4bn cubic metre, three-year gas supply deal with the UK arm of Russian export monopoly Gazprom, it said in a statement. Gas deliveries will begin from 2014 and will be priced against the UK’s freely traded spot gas market, the National Balancing Point (NBP). “Centrica is at the forefront [...]
Rosneft seeks $15bn from banks to finance stake buy in TNK-BP September 19, 2012 RUSSIAN oil company Rosneft is understood to be talking to banks about raising $15bn (£9.2bn) in financing to buy BP’s stake in TNK-BP, following BP chief Bob Dudley’s meeting with Vladimir Putin to discuss the sale. Putin met with Dudley, BP chairman Carl-Henric Svanberg and Rosneft chief executive Igor Sechin to get an update on [...]
Sberbank sale sparks more privatisations September 19, 2012 RUSSIA’S second largest bank yesterday announced it is seeking to sell shares next spring, following the central bank’s successful sale of a stake in the country’s largest institution Sberbank. VTB’s boss Andrei Kostin said “we will go ahead” with a $2bn (£1.2bn) sale next year, which could include new shares as well as some privatisation. [...]
Sberbank sale met by high investor demand September 18, 2012 STRONG demand for Sberbank stock has kept the share price up despite the Russian central bank selling a huge stake in the firm this week. The central bank is offloading a 7.6 per cent stake, worth $5.2bn (£3.2bn) after pricing shares at 93 rubles last night. That sale will take the state’s holding in the [...]
Russian central bank to sell off Sberbank stake September 18, 2012 A MAJOR stake in Russia’s largest bank will go on sale this week, it was announced yesterday, as the country’s central bank takes advantage of positive market sentiment. The 7.6 per cent stake of Sberbank is expected to bring in roughly $5bn (£3.1bn) for the Russian state, with 85 to 90 per cent of the [...]
A few green shoots show their heads in the City September 18, 2012 WHISPER it quietly, but are there finally signs that, when it comes to initial public offerings, the City is limping back to life? Not everyone has been entirely welcoming of the growing trend of Russian firms looking to IPO over here, but the news of Sberbank’s $5bn offering was surely a welcome green shoot in [...]
Sberbank unveils £3.3bn stake sale September 17, 2012 Russian state bank Sberbank is to list in London this week in a $5.4bn (£3.3bn) share sale, it announced today. The sale of a 7.6 per cent stake in Sberbank, which is seeking a joint London-Moscow listing, has been held back for more than a year by weak financial markets. Russian stocks rallied by eight [...]
Russian health group eyes IPO health IPO September 13, 2012 MD MEDICAL Group, a major Russian private healthcare provider, is planning an initial public offering of shares in London and has picked JP Morgan and Deutsche Bank to arrange the issue. MDMG, which could become the first Russian company in the sector to go public in London, was set up in 2010 and is controlled [...]
FTSE 100 jumps on German court ruling September 12, 2012 The leading share index was up in early trading, as investors reacted positively to news that German judges ruled in favour of the Eurozone’s rescue fund. Meanwhile, holding company Chesnara led the fallers on the FTSE All-Share, down 6.87 per cent. Embattled platinum miner Lonmin shed 5.56 per cent, as strikes continued at its Marikana [...]
What the other papers say this morning September 11, 2012 FINANCIAL TIMES Kremlin shields Gazprom from EU The Kremlin has moved to shield Gazprom from an EU anti-monopoly investigation in a deepening standoff over gas prices, warning that it will not co-operate with actions deemed to be against its interests. A decree signed yesterday day by Vladimir Putin aims to protect “strategic” companies operating abroad, [...]