Non-state pension Fund “Gazfond pension savings” together with “Gazprombank — UPRAVLENIE aktivami” Russian-Chinese investment Fund (RCIF) has acquired a stake of “Transneft” and have become the largest minority shareholders. It follows from the message published on the official website of “Gazfond”.
As part of the transaction, the company agreed to coordinate efforts aimed at increasing shareholder value and establishing a stable dividend yield.
The head of the NPF Oleg Beloshitsky believes that investment in “Transneft” will provide “high reliability and return on investment” of pension funds.
The press service of the RCIF confirmed their participation in the transaction. Details in the Fund is not divulged. The representative of the Fund declined to specify what stake of “Transneft” was bought by investors.
The representative of Gazprombank in conversation with refused to comment.
The previous owner of the shares was an investment group UCP Ilya Sherbovich, which in 2012-2013 was in the Board of Directors of “Rosneft”. In late March, the representative of the company UCP Irina Lanina in conversation with confirmed the sale of the group’s “significant shareholders “Transneft”. Specific buyers it did not name, but said that he sold the shares “to a group of financial investors.”
Russian-Chinese investment Fund is a joint Fund of the Russian direct investment Fund and China investment Corporation (China Investment Corporation). It was established in 2012 to ensure the development of bilateral economic, trade and investment relations between Russia and China. Running RCIF is a $2 billion.
For all time of its existence, the Fund invested in companies and projects: woodworking RFP Group, Detskiy Mir, the construction of a railway bridge across the Amur river between Russia and China, a number of public companies.
In February 2017 RCIF during the IPO “Children’s world” has sold part of its stake with a yield of over 90% in dollars.