Business in Brief

Norilsk Bids for Udokan

Norilsk Nickel has launched a bid to develop the huge Udokan copper field and said Thursday that it might invite partners to join the project should it win.

Norilsk said the field was believed to have 19.95 million tons of extractable copper metal and 11,900 tons of silver. (Reuters)

Prokhorov Sells KM-Invest

Billionaire Mikhail Prokhorov sold his half of KM-Invest, which holds 8.1 percent of the country's biggest miner, Norilsk Nickel, to former business partner Vladimir Potanin.

Potanin's Interros Holding now owns all of KM-Invest Prokhorov's Onexim Group said Thursday. (Bloomberg)

Vekselberg Picks Up TGK-7

Billionaire Viktor Vekselberg's Integrated Energy Systems won an auction for the government's stake in TGK-7 to gain control of the power utility.

IES bought 9.7 billion shares in TGK-7 at 2.85 rubles each, said a spokeswoman for the seller, Unified Energy System.. (Bloomberg)

E4 Purchases TGK-11 Stake

Billionaire Mikhail Abyzov's Group E4 agreed to buy the state's stake in Siberian generating company TGK-11 for 5.88 billion rubles ($246 million).

Abyzov's group made the best offer from five strategic investors for the 28.5 percent stake in the company, Unified Energy System, which organized the tender, said Thursday. (Bloomberg)

Fighter Talks With Algeria

Rosoboronexport is leading three companies in talks on the sale of as many as 16 Sukhoi warplanes to Algeria, Interfax reported Thursday, citing a source with knowledge of the matter.

Russia may export the Su-30 fighters to replace 15 MiG-29s returned by the North African country, the news service said. (Bloomberg)

Baltika Buys Azeri Brewer

Baltika Breweries, the country's largest brewer, said Thursday that it would buy Azerbaijan's biggest brewer.

Baku-Castel is being bought from a unit of French brewer and vintner Groupe Castel, Baltika said without giving the price. (Bloomberg)

Gazprom Neft's Q4 Profit

Gazprom Neft said Thursday that fourth-quarter profit increased 59 percent after oil prices rose.

Net income advanced to $1.32 billion from $834 million in the year-earlier period, the company said. (Bloomberg)

Surgut's Q1 Profit Up 31%

Surgutneftegaz, the country's third-largest independent oil producer, said Thursday that first-quarter sales rose 31 percent from a year earlier.

Revenue increased to 141.3 billion rubles ($5.9 billion), the company said. Last year, Surgutneftegaz reported sales of 107.9 billion rubles. (Bloomberg)

For the Record

Gazprom increased its reserves by 13 percent after receiving nine gas fields from the state without a tender, Kommersant reported Thursday. (Bloomberg)

Megdet Rahimkulov, Hungary's richest person, has moved back to Russia to concentrate on his activities there, HVG magazine reported. (Bloomberg)

Rosenergoatom said Thursday that a safety system shut down a nuclear reactor in St. Petersburg after a test on new equipment. (Bloomberg)