BP closer to selling out in Russia July 18, 2012 BP’S plan to rid itself of troublesome Russian venture TNK-BP took another twist yesterday, as the oil firm agreed to sit down with its oligarch partners to discuss a sale. Alfa Access-Renova, the vehicle used by the Russian tycoons to control half of TNK-BP, said yesterday it would use its right to first refusal on [...]
Nordgold bids to buy up stock in High River July 18, 2012 RUSSIAN miner Nordgold, the country’s third-largest gold producer, will bid for the 25 per cent of High River Gold Mines it does not already own, in a deal valuing the Canadian-listed producer at $1.2bn (£769m). Nordgold, controlled by billionaire Alexei Mordashov and chaired by Philip Baum (pictured right), was spun off from Mordashov-owned Severstal earlier [...]
CITY MOVES | WHO’S SWITCHING JOBS July 18, 2012 Baroda Pioneer The asset management firm has appointed Jaideep Bhattacharya as its managing director. He joins from UTI Mutual Fund, where he was previously group president and chief marketing officer. Bhattacharya has also held senior roles at ICICI, the Indian bank. VTB Capital Peter Stonor has been appointed global head of infrastructure and transport for [...]
Anton Bilton’s Raven Russia set to snap up more property sites July 17, 2012 PROPERTY group Raven Russia is expected to unveil more than $70m-worth of real estate acquisitions near Moscow today. The FTSE 250-listed firm is believed to have snapped up a large warehouse to the north of the Russian capital, which is let to two tenants, as well as 38 hectares of development land to the west. [...]
Evraz reports fall in production July 16, 2012 Russian steel and mining group Evraz said yesterday steel production fell six per cent in the second quarter from previous three months, due to maintenance work at its mills and weaker demand in Europe and South Africa. FTSE 100-listed Evraz said in an update that prices for most steel products were marginally flat.
Forget the dancing and eat July 16, 2012 RESTAURANT DSTRKT 9 Rupert Street, W1D 6DG www.dstrkt-london.com FOOD **** SERVICE **** atmosphere *** Cost per person without wine: £50 DSTRKT didn’t sound like my kind of place at all. It’s part nightclub and I hate those – I particularly don’t feel like clubbing after dinner. What with its club, its fancy cocktails, its caviar [...]
Billionaires seek sale of TNK-BP July 16, 2012 The billionaire co-owners of Anglo-Russian oil venture TNK-BP would be willing to sell their stake to British oil major BP for cash and stock to put an end to a bitter shareholder conflict. That was the position presented by Mikhail Fridman, one of the quartet of investors who own half of Russia’s third-largest oil company [...]
Big companies shy away from London floats July 12, 2012 LONDON’S Alternative Investment Market (Aim) was the venue for the vast majority of UK initial public offerings in the last three months while the main market remained in the doldrums, according to figures from Ernst & Young out yesterday. Aim hosted 11 listings in the second quarter, compared to just one IPO on the London [...]
CITY MOVES | WHO’S SWITCHING JOBS July 10, 2012 Argonaut Capital Partners The fund management firm has appointed John Lester as partner and head of distribution. He joins from Neptune Investment Management, where he was head of strategic partnerships. Lester was previously associate director at HSBC Asset Management. HSBC Patrick Boucher has been appointed global head of product management, equity research at the banking [...]
Redknapp in the reckoning for Russia role July 10, 2012 FORMER Tottenham, Portsmouth and West Ham manager Harry Redknapp is, alongside Fabio Capello, among those being considered for the vacant Russia job as the Russia Football Union accelerates its search to replace Dick Advocaat. Redknapp has been available since last month being sacked by Tottenham and replaced by Andre Villas-Boas but has regardless sufficiently impressed [...]