The Mountain Carousel ski resort in Sochi, Russia may see increased investment from Abu Dhabi’s Invest AD if the financial firm chooses to exercise a purchase option. Invest AD already owns 3.5 % of the project, along with an option to increase their investment by another 6.5%.
The ski resort, with an estimated construction cost of RUB 40 billion, is being built in anticipation of the 2014 Winter Olympic Games. OAO Sberbank owns 25% of the project while NBB shareholders hold 60%.
Invest AD (www.investad.ae)
Invest AD is a government-owned investment manager charged with the dual missions of investing state money and managing third party funds on behalf of Abu Dhabi. The firm is officially owned by the Abu Dhabi Investment Council and offers investment management and expert advice to institutional investors looking to get into the Middle East and Africa. Where private equity investing is concerned, Invest AD seeks established businesses already in late-stage development in a variety of sectors. Some of those sectors include education, healthcare, and logistics.
29/09/2010
Central & Eastern Europe, Financial Services, Investment, Private Equity News, Russia