| Other Photos |
 |
|
 |
Norilsk Nickel Co-Owner Sets Up Investment Fund of over $17bln
Russia’s tycoon Mikhail Prokhorov has created a new private investment fund based on his assets. The undertaking, Onexim Group, will have over $17 billion in assets based on Prokhorov’s stakes in Norilsk Nickel (22 percent), Interros (50 percent), Polus Zoloto (22 percent).
Once the Interros assets are split pari passu, Onexim Group will further widen by Prokhorov’s stakes in subsidiaries of the holding. The owners will divide 50/50 all assets of Interros, including Profmedia (100 percent), Otkrytye Investitsii (Open Investments; 58 percent), Silovye Mashiny (Power Machines; 30 percent), Norilsk Nickel (8 percent), Polus Zoloto (7 percent), Rosbank (69 percent), Soglasie Insurer (88 percent), RUSIA (26 percent), Plug Power (17.5 percent).
Onexim Group will focus on innovation projects related to traditional and hydrogen power engineering, nano-technologies and mining. The fund is targeted at investment projects with budgets starting from $1 billion.
Prokhorov has become Onexim Group’s president, and Dmitry Razumov has taken the GD office. Razumov was Norilsk Nickel’s deputy general director for takeover/merger strategy from 2000 to 2005.
”We stake on the projects, where Russia has objective competitive advantage. Our experience, analysis of the market and of development trends of Russia’s and world economies convince us that innovation and high-tech projects are the most promising,” Prokhorov said when presenting Onexim Group.
www.kommersant.com
|
|
|
