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. Last Updated: 07/27/2016

Business in Brief

Rosneft Bond Roadshow



Rosneft will present a $5 billion eurobond to investors in Europe and the United States from Friday through next Thursday, Interfax reported Thursday, without saying where it got the information.

The company will meet investors in London on Friday; in Los Angeles and London on Monday; in Boston, Zurich and Paris on Tuesday; in New York, Munich and Frankfurt on Wednesday and in New York and Amsterdam on Thursday, Interfax said.

The bond will be sold in two portions in different currencies, Interfax said. (Bloomberg)




Currency Reserves Dip



The country's foreign currency and gold reserves declined to $406 billion last week, the Central Bank said Thursday.

The reserves, the world's third-biggest, declined by $600 million after rising to a record $406.6 billion the previous week, the bank said in a statement. (Bloomberg)




Exxon Technology for Sibur



Petrochemicals firm Sibur will buy technology from an ExxonMobil venture as it upgrades and expands plastics output at its plant in Perm, in the Urals region.

Sibur Holding, a unit of Gazprom, will invest 2 billion rubles ($80 million) to build the new ethyl benzene unit designed by Badger Licensing, spokeswoman Natalya Vasyutina said Thursday. Badger is a venture of ExxonMobil's chemicals unit and Shaw Group of Baton Rouge, Louisiana. (Bloomberg)




Apollo Buys Metro Mall



Apollo Real Estate Advisers bought a mall on the outskirts of Moscow from Metro, marking its entry into the Russian real estate market, Kommersant reported Thursday.

The 29,000-square-meter shopping center is now occupied by Metro's Real unit and French furniture retailer Castorama, the newspaper said, citing James Gilbert, a local spokesman for Apollo.

The purchase price is estimated at $100 million, Kommersant said, citing unidentified people outside the companies. (Bloomberg)




$50M Sitronics Contracts



Sitronics, a maker of microelectronics and a supplier to Siemens and Ericsson, has won research and development contracts worth $50 million.

The company got 15 tenders to develop electric components for the Federal Industry Agency, the company said in a statement distributed by Business Wire Thursday. (Bloomberg)




Hungarians Get GAZ Order



BUDAPEST -- Raba, a Hungarian maker of vehicle parts and military trucks, received a three-year order to supply bus axles to GAZ Group in Russia. The shares rose to their highest in more than six years.

The contract with GAZ is worth 67 million euros ($91 million) and Gyor, Hungary-based Raba expects 13.1 million euros from it this year, according to a statement from the Budapest stock exchange Thursday.

Raba sales to the former Soviet Union will be 27 million euros in 2007, the statement said. (Bloomberg)




Lower Razgulyai Profit



Razgulyai Group, a grain and sugar producer, on Thursday posted a 40 percent decline in 2006 profit after costs expanded.

Net income fell to 887 million rubles ($34.6 million), or 8.5 rubles a share, from a restated 1.47 billion rubles, or 14.7 rubles, a year earlier, the company said in a statement on its web site.

Sales rose 16 percent to 22.97 billion rubles. (Bloomberg)




Ochakovo Brewery Closure



Ochakovo, an independent beer producer, plans to start its own investigation into alleged pollution near its Moscow brewery after government officials shut it down for five days.

The matter is a "paradox" because Ochakovo has initiated a number of measures to clean the riverbanks and spent 20 million rubles ($778,000) upgrading its water supply and sewage systems last year, the company said in a statement Thursday. (Bloomberg)




AvtoVAZ, Fiat Engine Talks



Carmaker AvtoVAZ and Italy's Fiat are discussing a possible $800 million joint venture to produce car engines in Russia, AvtoVAZ president Vladimir Artyakov said Thursday.

AvtoVAZ had proposed constructing a plant in Tolyatti to produce at least 450,000 engines per year, Artyakov told reporters. (Bloomberg)




Interpipe Share Issue



Ukraine's Interpipe is preparing a dollar-denominated loan participation notes issue and has mandated ABN Amro and ING as organizers, a market source said Thursday.

Interpipe was in talks with TMK over a "potential transaction," TMK said in May. (Reuters)