Vallares eyes Russian deals worth £8bn July 17, 2011 TONY Hayward, the former chief executive of BP, is considering a bid for two major Russian oil producers in a deal that could be worth around £8bn. Vallares, Hayward’s investment vehicle, has held early stage talks with Bashneft, one of Russia’s biggest oil producers, as well as Russneft, a smaller rival, City A.M understands. Both [...]
Russia’s Mechel mulls £2.5bn London float July 17, 2011 MECHEL looks set to be the next blue-chip Russian firm to list on the London Stock Exchange. The group – one of Russia’s biggest steel miners – is understood to be in the early stages of planning a flotation of around a quarter of its mining subsidiary to raise up to £2.5bn. The deal could [...]
Russian gold miner Zapadnaya the latest to plot a London IPO July 13, 2011 RUSSIAN gold mining firm Zapadnaya is the latest in a string of firms from the country to plot a London initial public offering, as it presses ahead with its plans to go public amid turbulent market conditions. The company is in the early stages of pre-marketing talks with investors, with no date yet set for [...]
Phosagro lists in London for $538m July 13, 2011 RUSSIAN fertiliser group Phosagro priced its London share sale yesterday, raising $538m (£337m) to pursue acquisitions. The offer valued the firm at $5.2bn, significantly lower than early analyst estimates of up to $8.7bn. It priced its initial public offering (IPO) in the lower half of its initial range at $14 per global depository receipt, or [...]
Phosagro is latest group to get float off the ground July 12, 2011 THE Russian fertiliser group Phosagro has narrowed the range for its planned London initial public offering (IPO) and is on track to float today with a market capitalisation of around $5bn (£3.14bn). The company, whose shares are scheduled to begin trading on the London stock exchange today, narrowed the price range for shares to $13.75-$15.75 [...]
London’s troubled IPO market sees signs of life July 11, 2011 WHISPER it softly, but there are signs that the iciness that has characterised the London IPO market is beginning to thaw. Over the past couple of weeks, two foreign-based groups, Ophir Energy and Global Ports, have successfully raised funds in the London markets, in contrast to the many groups who have had to pull their [...]
Kolobnev fails doping test July 11, 2011 TOUR DE FRANCE: Cycling’s world governing body announced last night that Russian rider Alexandr Kolobnev has failed a doping test during the Tour de France. The UCI said 30-year-old Kolobnev, of the Katusha team, had given a urine sample which contained the diuretic hydrochlorothiazide, a prohibited ‘specified substance’.
ROTHSCHILD COURTS OLIGARCHS UNDER £1M MONTENEGRO SKIES July 10, 2011 BIG BUSINESS came to Montenegro this weekend, lured by the £1m fortieth birthday celebrations for Nat Rothschild, the billionaire scion of the Rothschild banking dynasty. Peter Mandelson, Russian investor Oleg Deripaska and Chelsea owner Roman Abramovich were among the 300 oligarchs and mining magnates who flew to “the St Tropez of the Adriatic” for the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 6, 2011 FINANCIAL TIMES SPOTIFY SIGNS DEAL WITH VIRGIN Spotify and Virgin Media on Wednesday announced a deal that could help the music streaming service boost numbers of paying customers and reach a wider audience. By the end of the year, Virgin Media’s 4m UK customers will be able to access Spotify’s catalogue of 13m songs through [...]
PhosAgro share sale fully covered July 6, 2011 RUSSIAN fertiliser group PhosAgro has taken enough orders to fully cover its $500m (£312m) London share sale. The order book for shares being sold in the company was fully covered by the end of last week, just days into its roadshow of investors. Bankers on the deal went out with a fully covered message yesterday. [...]