ONEXIM Group has got all permissions to acquire the assets
PRESS RELEASE
ONEXIM Group has got all permissions necessary to acquire the assets in the framework of its deal with INTERROS
May 12, 2008, Moscow. - ONEXIM Group is pleased to announce it has received all necessary permissions from the Russian Federal Antimonopoly Service to acquire the 27,5% of Open Investments Company, the 91% of Soglassye Insurance Company and the 100% of Rosbank Management Company.
Getting permission has been vital to complete the deal in the framework of the agreement on the division of KM Invest assets signed on April 17, 2008. In accordance with this agreement INTERROS acquires the 50% share of KM Invest, owned by Mr Prokhorov. ONEXIM further buys out 27,5% of Open Investments Company and the 91% of Soglassye Insurance Company, from KM Invest. The sides also agreed that ONEXIM takes control over Rosbank Management Company and a number of geological prospecting assets. They expect to close the deal on May 15, 2008.
Dmitry Razumov, General Director of ONEXIM Group noted: "Having all necessary permissions allows us to complete the deal on the division of the KM Invest assets within the time peiod specified in the agreement".
ONEXIM Group, a private investment fund with assets of more than 25 bln USD, with diversified investment portfolio in mining and smelting, energy sector including hydrogen power generation and nanotechnology, as well as finance, media and real estate sector.