INSUBCONTINENT EXCLUSIVE:
control.According to the RBC news website, the stake was purchased from Kismet Capital Group, the investment firm controlled by businessman
Ivan Tavrin, who acquired Avito in 2022 from South Africa's Naspers.Tavrin confirmed the sale during a meeting with Avito employees,
RBC.The acquisition is also seen as a potential stepping stone toward an initial public offering (IPO), possibly in a jurisdiction less
impacted by international sanctions.Kremlin takeoversThis deal is part of a broader trend in which the Kremlin and state-aligned businessmen
are taking over major online assets
right-hand men and now runs the quasi-state-owned development bank VEB.And it has recently emerged that a 27.7% stake in Russian
Deputy Chief of Staff and former Prime Minister Sergei Kiriyenko.In April 2024, bne IntelliNews reported that Kovalchuk's Vostok acquired a
28% stake in Ozon from Baring Vostok Capital Partners, founded by prominent fund manager Michael Calvey
open internet, where Russians can find opposition publications and unfiltered news.That changed after President Vladimir Putin launched a
sanctions, which restrict entities owned 50% or more by sanctioned individuals from accessing American financial systems, The Bell
reported.Rosselkhozbank, however, remains one of the few major Russian banks not under full U.S
This is largely due to its importance in supporting agricultural exports
In fact, during recent ceasefire negotiations over the war in Ukraine, Putin demanded that remaining sanctions on Rosselkhozbank be lifted
His bid won out over expected contenders, including the VK Group and billionaire Vladimir Potanin, who is reportedly part of the consortium
At the time, Tavrin had not been sanctioned and agreed not to resell the asset for at least two years.Despite earlier assurances that he
