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. Last Updated: 07/27/2016

Business in Brief

UES Seeks $1.3Bln for Units

Unified Energy Systems plans to sell stakes in its TGK-8 and TGK-12 generating units for a total of at least $1.3 billion, Kommersant reported Tuesday.

UES intends to raise $900 million by selling 43.4 percent of TGK-8 and wants $450 million for 22.9 percent of TGK-12, the newspaper said, citing materials for a March 30 board meeting. The TGK-8 sale may take place in September and the TGK-12 stake may be sold later, Kommersant said. (Bloomberg)

Gazprom Talks With EDF

PARIS Gazprom is in discussions with Electricite de France to supply natural gas, French daily La Tribune said Tuesday, citing the head of the suppliers export unit in France.

Gazprom already has an agreement with Gaz de France that will allow it to bring in an extra 1.5 billion cubic meters of gas beginning in October 2008. It is also looking for other entry points through which it can bring gas into the French market, Yury Virobyan said, the newspaper reported. (Bloomberg)

BA, Iberia May Face Ban

LONDON British Airways and Spains Iberia Lineas Aereas de Espana SA are among 15 European Union airlines warned that they could be banned from Russian airspace for violating safety regulations, Agence France Presse reported Monday.

Alexander Neradko, head of Federal Air Navigation Agency, issued the warning in a letter to European Civil Aviation Conference head Michael Wachenheim, AFP said. (Bloomberg)

Wingas Plans 2 New Pipes

FRANKFURT German-Russian gas joint venture Wingas said Tuesday that it planned to build two pipelines to distribute in Germany gas arriving via Nord Stream, a planned sub-sea pipeline to bring more Russian gas to Europe from 2010.

Wingas Transport, the companys transport division, wanted to build a 480-kilometer line called OPAL from the Nord Stream landing point near Greifswald to run along the Saxony state border near the Czech Republic, it said in a statement. (Reuters)

Phone Firms Blacklist

Banks will probably receive a list of mobile phone subscribers who are delinquent on their bills from the three biggest operators, Vedomosti said Tuesday, citing Vladimir Maleyev, general director of the National Credit Bureau.

Banks will be able to use a system called D-Telecom that now has 500,000 entries for nonpaying subscribers of Mobile TeleSystems, VimpelCom and MegaFon, the paper reported.

(Bloomberg)

Vesti-24 to Show in Europe

Vesti-24 news channel is to be shown in Europe after completing a deal with Globecast broadcast services, the Russian state broadcasting service said Tuesday, Interfax reported.

Globecast, a subsidiary of France Telecom, delivers television and radio programs to viewers in Europe and North America via Hotbird satellites, the companys web site said.

This systems has a potential catchment audience of 240 million viewers, the broadcasting service said, the agency reported. One week after broadcasts begin in Europe, Vesti-24 will start being shown in the United States. (MT)

Sitronics to Make SatNav

Sitronics, a technology unit of Sistema, and ZTE, Chinas biggest phone-equipment maker, will manufacture satellite navigation systems, Kommersant reported Tuesday, citing an agreement between the companies.

The firms will make equipment for the Glonass global navigation system, a competitor to U.S. Global Positioning System, which Russia plans to start operating at the end of this year, the paper said. Russia plans to launch 24 satellites by the end of 2009. (Bloomberg)

Prokhorov to Revive Norilsk

Billionaire Mikhail Prokhorov plans to help revive the city of Norilsk, which could benefit other cities that primarily rely on one company for employment, Vedomosti reported Tuesday.

One-third of Norilsks 214,000 inhabitants work for Norilsk Nickel and only 150,000 residents may remain by 2020, Vedomosti said, citing the plan.

(Bloomberg)

Alrosa $18M Diamond Sale

Alrosa, the worlds second-largest diamond miner, sold more than $18 million worth of diamonds at an auction in Moscow, the company said Monday.

The company, which accounts for 25 percent of the worlds uncut diamond output and 99 percent of the countrys output, said it offered 85 lots with a total weight of 9,000 carats at the auction. The firm also said Tuesday that it planned to invest $14 million in joint exploration operations in Angola with that countrys national diamond company Endiama, Prime-Tass reported. (MT)

Sedmoi Kontinent to Grow

Sedmoi Kontinent plans to more than double in size in Moscow over the next two to three years, Kommersant reported Tuesday, citing the companys co-owner Alexander Zanadvorov.

Sedmoi Kontinent will grow from about 110 supermarkets in Moscow and its surroundings to about 250, Zanadvorov told the newspaper.

(Bloomberg)

Yevroset to Double Stores

Mobile phone retailer Yevroset aims to double its outlets in Ukraine to about 1,000 in the next few years to boost growth.

Yevrosets Ukrainian market share should rise to about 15 percent this year, up from 5 to 7 percent at the end of 2006, Vladimir Bogdanov, vice president for marketing, said Monday.

(Bloomberg)

CAT Oil Wins Rosneft Deal

Austrian oil-services company CAT Oil said it won an order from Rosneft to carry out fracturing work at 567 sites.

The work will begin on April 1, CAT Oil said Tuesday in a statement. The fracturing jobs will be carried out in the Khanty-Mansiisk autonomous district. Fracturing is a means of breaking underground rock to enable oil or gas trapped in pores to move to a producing well. (Bloomberg)

Shinhan Seeks Russian Bank

SEOUL, South Korea Shinhan Bank, a unit of South Koreas second-largest finance service company by market value, is considering acquiring a Russian bank to enter the countrys market.

Maeil Business Newspaper, citing unidentified Shinhan officials, reported that Shinhan Bank was joining with Australias Macquarie Bank in seeking to acquire a Russian bank. (Bloomberg)

Carmakers to Offer Loans

Renault and Nissan Motor plan to open a bank in Russia that will give consumer loans for their automotive brands, Interfax reported Tuesday, citing unidentified persons in the banking community.

General Motors, Toyota Motor, Bayerische Motoren Werke and DaimlerChrysler also plan to open financial divisions in Russia, the agency reported. (Bloomberg)