print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  Financial Corporation "Sistema" REGISTER LOG IN

Press Releases > Financial Corporation "Sistema"  all about the company

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

October 12, 2010

Sistema announces intention to acquire up to 51% of JSC NIS

Moscow, Russia – October 12, 2010 – Sistema JSFC (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in, and is a major shareholder of, companies operating in different industries, today announced the intention to acquire up to 51% of JSC NIS – 25.5% from the Concern RTI Systems and 25.5% from JSC SITRONICS, with the Russian government retaining its 49% stake. As approved by Sistema’s Board of Directors, the consideration of the transaction may total up to RUB 484 million. Although completion of the transaction is expected in the fourth quarter of 2010, it remains subject to the execution of binding documentation and the satisfaction of all conditions precedent, including receipt of the approval of the Russian Federal Antimonopoly Service.

JSC NIS is the federal operator of satellite navigation services responsible for commercialization of the GLONASS system. This transaction is in pursuance of Sistema’s policy to invest in GLONASS-related projects and in line with Sistema’s strategy to participate in promising private-public partnerships.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer