RUSSIA > China based CEFC to acquire 14.2% stake in Rosneft from Glencore and QIA Consortium for about $9 billion

CEFC logo photoshop CEFC, a Chinese oil company, is set to buy 14.2% stake in Rosneft from Glencore Plc and Qatar’s sovereign wealth fund with the companies only retaining 0.5 % and 4.7% of their stake respectively. Glencore and Qatar SWF will pay their debt for buying their initial stake for about $12 billion. This deal is a departure from trend in China More …

RUSSIA > Germany’s Daimler to build car plant in Russia for Mercedes-Benz with $264.04Mn investment

Unternehmenszeichen_Abb_03 Germany based Daimler is set to invest €250Mn ($264.04Mn) in new car plant for Mercedes-Benz in Russia creating more than 1000 jobs. The plant is planned to be built at Esipovo Industrial Park, about 40 kilometers northwest of Moscow. Daimler expects its first cars to leave the assembly line in 2019.   About Mercedes-BenzMercedes-Benz is a global automobile manufacturer and a More …

RUSSIA > Israel’s Frutarom Industries becomes sole owner of PTI after acquiring remaining 25% of the company for $40MN

Frutarom-Logo-sent Israel based flavor company, Frutarom Industries becomes sole owner of Russia based Protein Technologies Ingredients (PTI) after exercising its clause to take remaining 25% of the company. But 25% of the company came with hefty sum of $40 million while 75% of the company was acquires for $50 million back in 2013. PTI currently has one R&D and marketing centers More …