Page 169 - RusRPTJan23

Management. The rebranding took place after Sber sold 51% in SB Blagosostoyanie LLC, the owner of Sber Asset Management and Sber Real Estate Funds management companies, as part of several transactions. As a result of one of the transactions, Sistema Telecom Assets LLC (a subsidiary of AFK Sistema) became the owner of a 49% stake in SB Blagosostoyanie LLC.
MC Pervaya manages pension savings, mutual funds, assets of insurance companies, banks and private investors, as well as public funds. As of September 30, 2022, the total volume of assets managed by MC Pervaya was RUB 1.44 trillion.
Earlier, a lawsuit against VimpelCom for 1.75bn rubles. also filed the Criminal Code "Leader", wrote "Vedomosti". Initially, the plaintiff did not ask for any interim measures, but on November 29, a few days after the announcement of the plans of the Dutch Veon Holdings BV to sell VimpelCom, he filed a corresponding petition.
On November 24, it became known that Veon had agreed to sell VimpelCom to the Russian top management of the company, headed by CEO Alexander Torbakhov. As part of the deal, the Russian company was valued at about 370bn rubles, but Veon will receive only 130bn, the official statement said. The transaction is expected to close no later than June 1, 2023, with the parties entitled to an extension unless the necessary licenses and regulatory approvals are obtained.
Russian mobile operator VimpelCom will keep its brand Beeline after its parent company, Amsterdam-headquartered VEON sells the company to its local management, VimpelCom General Director Alexander Torbakhov told reporters late on December 8. “Of course, it won’t change, Beeline will stay Beeline,” Torbakhov said. VEON said in early November that it started a process of sale of its Russian business and VimpelCom said soon that some of its top managers with Torbakhov at the head would buy the company for 130bn rubles.
9.2.10 Utilities & Renewables corporate news
Power liberalization in Far East could be launched in November 2023,
Energy Ministry representative was quoted by Interfax as saying. The steps are 15% liberalization in November 2023, 50% in July 2024 and 100% in July 2025 (excluding the household volumes, we reckon). Market Council considers that full liberalization could happen not later than July 2025. This could increase the wholesale power prices Liberalization could be quite beneficial for RusHydro, as currently the tariffs are set on cost basis. As a result the prices will be set by the least efficient thermal stations. Hence, Bureiskaya and Zeiskaya hydro stations will be able to sell power at substantially higher prices. That will also enable RusHydro to pass through increased fuel costs onto the
169 RUSSIA Country Report January 2023 www.intellinews.com