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. Last Updated: 07/27/2016

Business in Brief

Gazprom Has Pipe Deal

Gazprom completed a deal to buy 50 percent of the Belarus pipeline operator Beltransgaz for $2.5 billion.

Gazprom will make equal payments to Belarus over four years, at each step acquiring 12.5 percent in Beltransgaz, the Moscow-based company said in a statement Saturday.

The agreement seals a deal made on Dec. 31, in which Gazprom and Belarus agreed on a gradual increase of gas prices in exchange for Gazprom taking half of Beltransgaz. (Bloomberg)

Magnit's Sales Jump

Magnit, the country's second-largest supermarket chain, said Friday that its sales surged 57 percent in the first four months of the year as the retailer opened more stores.

Sales climbed to $1.1 billion from $674 million in the year-earlier period according to preliminary, unaudited results, the company said in a statement. Magnit opened 66 outlets in January-April, compared with 110 openings in the same period of 2006. (Bloomberg)

TGK-5 Owners Buy

Existing shareholders in power generating firm TGK-5 have exercised pre-emptive rights to buy 20.99 percent of the firm's new shares issue, the company said Friday.

This means new shareholders will have a chance to buy up to 79 percent of the new issue, which amounts to 11.6 billion rubles ($450.8 million). (Reuters)

Halt to Diesel Pipeline

Russia will halt a pipeline shipping diesel to world markets via the Latvian Baltic Sea port of Ventspils for repairs within the next few days, traders said Friday, but it was unclear how long the halt would last.

The pipeline belongs to state firm Transnefteproduct, which was not immediately available for comments.

The pipeline is pumping 10 million tons of diesel from refineries in Central Russia to Ventspils for exports to markets in northwest Europe. (Reuters)

Rosinter's IPO Roadshow

Restaurant chain Rosinter Restaurants Holding will start a roadshow of its domestic initial share offering Monday, a source close to the placement said Friday.

The pricing is expected May 30 or 31, the source said. The company was valued by the IPO organizer, Renaissance Capital, at $427 million to $486 million.

Rosinter is seeking to raise $100 million to $120 million via a stock placement in Moscow. (Reuters)

Imperial's Promising Find

LONDON -- Imperial Energy, a British company with oil assets in Russia, made a "very promising" discovery at a new well in the Tomsk region, the company said Friday in a statement.

Imperial completed the South Festivalnoye 5 well, with 18.2 meters of oil in the Bazhenov deposit at a depth of 2,791 meters, the company said.

It said it also found oil and gas in the Tyumen deposit, at a depth of 3,115 meters with a total thickness of 65.5 meters. (Bloomberg)

WBD Stake Cut

Morgan Stanley, the largest investor in dairy and juice producer Wimm-Bill-Dann, cut its holding in the company to 6.2 percent, Interfax reported Friday, citing the Bank of New York.

Morgan Stanley sold shares representing a 1.2 percent stake in Wimm-Bill-Dann, the news service said, citing Bank of New York's statement for first-quarter transactions. (Bloomberg)

Rockwool's $134M Plant

COPENHAGEN -- Rockwool International may spend more than 100 million euros ($134 million) on a new insulation-materials plant in Alabuga in the republic of Tatarstan, Interfax reported Friday.

Rockwool will decide whether to go ahead with the project in August, CEO Eelco van Heel told Interfax. (Bloomberg)

For the Record

Aeroflot is seeking up to $1.2 billion in loans from Western banks to fund its purchase of 39.9 percent of Italy's Alitalia, Vedomosti said Friday. (Reuters)

TMK won a $1 billion order from Surgutneftegaz, equal to about a 10th of its annual sales, TMK said in a statement Friday. (Bloomberg)

Norway and Russia are nearing agreement over a small part of their long-disputed Barents Sea border zone, an area potentially rich in untapped oil and gas resources, sources familiar with negotiations said Friday. (Reuters)

Billionaire Vladimir Yevtushenkov's Sistema holding company is still interested in a linkup with Deutsche Telekom, the Handelsblatt newspaper said Friday, citing CEO Alexander Goncharuk. (Bloomberg)

Gazprom reduced its 2007 export forecast by 7 percent after an unseasonably warm winter in most of Europe, Interfax reported Friday, citing an unidentified person familiar with the situation. (Bloomberg)

Russia plans to build a cargo terminal on the Baltic Sea that will be able to handle 250,000 cars and other goods, Vedomosti reported Friday. (Bloomberg)

United Company RusAl is considering electricity and bauxite projects in Vietnam to start production there, the company said Friday. (Bloomberg)

Russia will increase crude oil exports to China by at least 5 percent this year, Sergei Tsyplakov, Russia's trade representative in China, said in Beijing on Friday. (Bloomberg)