Page 96 - RusRPTJuly18

affecting the modernization of ships.
9.2.6 Agriculture corporate news
One of Russia's largest agricultural producers RusAgro halted negotiations to acquire the poultry producer Belaya Ptica (White Bird) from the former co-owner of bailed out Promsvyazbank (PSB) Dmitri Ananyev, Kommersant d aily reported on June 13 citing unnamed sources. Belaya Ptica was one of the assets that were split between Dmitri and his brother Alexei Ananyev and are being sold off to cover debts created from their failed banking assets. Previous reports indicated that authorities of the regions where the producer is active called for support for the company to prevent it from going bust. There are no details on why the deal failed, with possible reasons being unfavourable conditions for Rusagro or the Central Bank of Russia trying to gain control in the holding to compensate the costs of the PSB bail out. Belaya Ptica has RUB30bn ($0.5bn) in debt, most of it to PSB.
9.2.7 TMT corporate news
Russia's largest social network VKontakte controlled by internet major
Mail.ru has launched its own payment platform VK Pay , RBC business portal reported citing the representatives of the network. The platform is mostly intended for SMEs that want to promote their goods and services directly on social networks. In addition to VK Pay an e-commerce platform will be developed on VKontakte, which will include train and flight ticket sales on OneTwoTrip, concert tickets on Kassir.ru and ShowGoGo, as well as food delivery services Grow Food and Delivery Club (controlled by Mail.ru). VK Pay will reportedly cap the transactions at RUB60,000 ($1,000) and the cash out at RUB200,000 monthly.
Russia's leading retailer X5 Group is in talks with China's largest online store JD.com to establish a partnership in Russia, according to Kommersant daily. Reportedly, JD.com could be offering its products through X5's online store, while also placing automated pick-up points in all of X5’s three retail formats.
Chinese Alibaba Group starts online food product sales in Russia Tmall platform, RBC business daily reports. Reportedly the assortment will initially cover Chinese producers, but could be extended to local producers as well, with the key focus currently being on seafood categories.
Russia's mobile major MegaFon expanded its IT portfolio by acquiring 100% in TechnoInvestProekt (Tehnoserv) from ex-owner of bailed Promsvyazbank (PSB) Alexei Ananyev, Interfax and Vedomosti r eported on June 4. Technoserv is one of the assets of embattled banker brothers Ananyevs , and among others controls Tehnoserv AC and software developer Reksoft. In May its capital was increased to RUB767mn, according to Vedomosti. MegaFon, along with other telecom operators such as MTS, could be emerging as a large investor into Russian high tech and digital market as the telecom numbers in Russia started to recover in 2018 . Most recently MegaFon formed a MF Technologies joint venture with Russia's third largest bank Gazprombank and USM Holdings of billionaire and tech investor Alisher Usmanov. The JV will co-own Russian internet services major Mail.ru.
RUSSIA Country Report July 2018 www.intellinews.com