Page 110 - RusRPTSept19

claimed that VTB Bank could re-sell the stake to strategic investors Roman Abramovich and Vladimir Lisin.
Russian trucking operator Globaltruck posted revenue growth of 24% year-on-year to RUB4.5bn ($67mn) in 1H19, with revenues from forwarding services up by 21% to RUB401mn. Company's Ebitda stood at RUB567mn, increasing by 3.2% y/y but seeing the margin narrow by 200bp (basis points) to 13%. BCS Global Markets commented on August 29 that numbers were "expectedly weak" with 2% miss on the revenue and 5% miss on Ebitda versus the analysts' expectations.
Stroytrangaz Logistika, a subsidiary of StroyTransGaz controlled by stoligarch Gennady Timchenko, could start exporting phosphate fertilisers produced in the Syrian city of Homs that would be protected by Russian mercenaries, the Financial Times reported on September 2 citing unnamed sources. Reportedly Stroytrangaz Logistika is cooperating with the state-owned Syrian General Fertilizer Company (GFC). Syria has one of the largest phosphate reserves in the world, with about 3.1mn tonnes exported in 2010 before the civil war broke out.
9.2.13 Other sector corporate news
Russia’s diversified holding Sistema has completed the acquisition, together with a financial partner, of a 46.5% equity stake in Sintez Kurganskoe Medical Products Company and a 75.1% equity stake in Biocom from investment firm Marathon Group for RUB11.8bn ($181.2mn), the company said in a statement on August 8. "The 46.5% stake in Sintez was acquired by Sinocom for RUB8.2bn ($125.9mn) in a transaction financed jointly by Sistema and a financial partner. Subsequently, in order to combine the businesses, newly acquired Sintez purchased a 75.1% stake in Biocom from Sinocom for 3.6bn rubles ($55.3mn). The purchase of Biocom shares was funded with Sintez’s own capital and funds borrowed by Sintez," the statement said as cited by TASS.
110 RUSSIA Country Report September 2019 www.intellinews.com