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. Last Updated: 07/27/2016

Business in Brief

Sukhoi Receives 71 Orders



MILAN, Italy -- Sukhoi Civil Aircraft, a partner of Italy's Finmeccanica, has received 71 orders for its Super Jet-100 airliner and has options for the delivery of 15 more, Il Sole 24 Ore reported Friday, citing the company's chief executive officer, Mikhail Pogosyan.

The executive said further orders for the midrange passenger airplane will be agreed on at the MAKS air show, which starts Tuesday, the Italian newspaper said. (Bloomberg)




Gazprom Buys Back Shares



Gazprom will spend 1 billion rubles ($39.02 million) buying back its shares in October and November, the company said Friday.

Gazprom said it called a tender this month to choose a broker to handle the buyback and would accept bid applications until Sept. 5.

"The number of shares to be repurchased will depend on their market value at the time of the purchase," Gazprom said in an explanatory note for the tender. (Reuters)




LUKoil Offers Unit Buyout



LUKoil offered to buy out minority shareholders in its Lukoil-Nizhegorodnefteorgsintez refinery unit, a spokesman for the company said Friday.

LUKoil offered 1,565 rubles ($60.68) for each share in the refinery, known as Norsi, the spokesman said, declining to be identified because of company rules. (Bloomberg)




Wine Exports Set to Resume



Moldova may resume wine exports to Russia in October after seven Moldovan companies were cleared by the Russian consumer watchdog, Kommersant reported Friday.

Companies will need at least two months to go through certification, the newspaper said, citing an unidentified person at Krikova-Akores, a Moldovan wine producer.

The Moldovan government is waiting until Russia clears at least 20 companies, because it doesn't want to create an unfair competitive advantage, Valeriy Mironesku, head of Moldova's state-run wine agency, told Kommersant. (Bloomberg)




Aeroflot Offer Share Buyout



Aeroflot, the country's largest airline, will offer to buy out investors who oppose its purchases of Airbus and Boeing aircraft, the airline's deputy chief executive officer, Lev Koshlyakov, said in an interview.

State-controlled Aeroflot will agree to pay 58.85 rubles ($2.28) per common share to opponents of the plane orders, Koshlyakov said.

"It's a standard procedure," Koshlyakov said. (Bloomberg)




Germans Up Aeroflot Stake



Deutsche Bank, Germany's biggest bank, increased its stake in Aeroflot to 8.8 percent, the airline said Friday in a regulatory filing.

The bank's London unit raised the holding from 1.8 percent, the airline said. The bank gave no reason for the increase, the statement said. (Bloomberg)




Aeroflot Names Price Limit



Aeroflot will pay "no more than" $5.8 billion to buy 44 airliners from rivals Boeing and Airbus, a member of the company's board said Friday.

State-run Aeroflot will not pay more than $2.9 billion for 22 Airbus A350 airplanes and $2.9 billion for 22 Boeing 787 Dreamliners, Leonid Dushatin said.

"This is an estimate, this is the most the airline will pay," Dushatin said. "Most likely the contract price will be lower." (Bloomberg)




Chery Seeks New Partner



Chinese carmaker Chery, which has been involved in talks with Avtotor to build a plant in the country, is now seeking a new partner in southern Russia, Vedomosti reported Friday, citing a source.

Kaliningrad-based Avtotor, which has been assembling Chery Amulet cars since April, could soon lose a duty tax break on imports of car parts, the newspaper said. If Chery builds the plant in Kaliningrad, it would have to pay extra to import its cars to Russia via Lithuania and Latvia, Vedomosti said. (MT)




AvtoVAZ's New Shareholder



Roscoe Holdings, a company with ties to Troika Dialog bank, has built up an 11.5 percent stake in carmaker Avtovaz, Vedomosti reported Friday.

Roscoe Holdings has been buying stock in the carmaker on behalf of state arms trader Rosoboronexport, which controls the plant, Vedomosti said, citing a source.

The Cyprus-based holding firm has accumulated 11.5 percent, including 6.97 percent in voting stock, in the country's largest carmaker since April, the newspaper said. (MT)




Turbine Firm Buy Approved



Billionaire Alexei Mordashov's purchase of 30 percent of turbine maker Power Machines was approved by Germany's anti-monopoly agency, Interfax reported Friday.

Mordashov's Highstat applied for permission from the agency Aug. 6, the agency reported, citing agency documents. (Bloomberg)




Russian Alcohol for Sale?



LONDON -- Russian Alcohol, the maker of Zelyonaya Marka vodka, could be sold for as much as $600 million after its owners put the company up for auction, the Sunday Times of London reported.

Industrial Investors, a Russian firm, hired ABN Amro Holding to advise on a sale, which may attract interest from drinks companies such as Diageo and Pernod Ricard, which has the international distribution rights for Stolichnaya vodka, the London newspaper said Sunday.

Zelyonaya Marka is the country's biggest-selling vodka with 7 percent of the market, the Sunday Times reported. (Bloomberg)




Renova Eyes Oerlikon Stake



ZURICH -- Billionaire Viktor Vekselberg is in talks to take a majority stake in Oerlikon from Victory Industriebeteiligung, Swiss weekly Sonntagszeitung reported Sunday without saying where it got the information.

Negotiations between Vekselberg's company Renova Group, which holds 14 percent of Oerlikon, and Victory began last week and are expected to continue, the newspaper said. Victory is controlled by Austrian investors Ronny Pecik and Georg Stumpf.

Renova and Victory both declined to comment, the newspaper said. (Bloomberg)




Refinery Runs Hit High



Refining runs in the country rose 3.4 percent in July versus June to hit a new record high, official data showed Friday, as oil firms rerouted crude to domestic refineries amid increased export duties.

Industry and Energy Ministry data showed that the country's refineries processed 4.71 million barrels of oil per day compared with 4.56 million bpd in June and the previous all-time high of 4.70 million bpd, reached in February. (Reuters)




Belarus Sees GDP Growth



MINSK -- The Belarussian economy grew 8.8 percent in the first seven months of this year and is expected to grow by 8 to 9 percent in 2008, the country's statistics and economy ministries said.

The statistics ministry released data Friday that showed industrial production grew 7.8 percent from January to July, compared with the same period last year.

"This shows that the industry is proceeding according to plan. From month to month, the economy grows, effective work and real wages for people grow," the government's press service said. (Reuters)