Russia Green-Lights Sistema Purchase of NVision
Russia’s Federal Antimonopoly Service (FAS) has authorized the purchase by Sistema Telecom Assets (part of the Sistema group) of a 38.75 percent stake in NVision Group, according to materials published by the agency
Jan 15, 2014
NVision Group is a developer and supplier of ICT solutions and services, including cloud services. and is one of Russia’s largest IT companies. At the end of fiscal year 2012, turnover at NVision Group totaled 59 billion rubles ($1.8 billion). NVision Group ranked third in the Digit.ru ratings of the largest Russian IT companies in 2012.
Currently, Sistema controls 50 percent plus half a share of NVision Group through RTP, one of its daughter companies. The remaining shares are held by private investors.
The government source told Digit.ru that Sistema Telecom Assets is currently negotiating the purchase of 38.75 percent of NVision from its private shareholders. If the sale goes through, Sistema, through its subsidiaries, will control an 87.75 percent stake in Envision.
Sistema has not commented on the purchase.
Incorporated in 1993, Sistema is one of Russia’s top-10 companies by revenue and is one of the largest publicly-traded diversified holding companies in the world. Sistema was ranked number 315 in the Fortune Global 500 list.
Currently, Sistema controls 50 percent plus half a share of NVision Group through RTP, one of its daughter companies. The remaining shares are held by private investors.
The government source told Digit.ru that Sistema Telecom Assets is currently negotiating the purchase of 38.75 percent of NVision from its private shareholders. If the sale goes through, Sistema, through its subsidiaries, will control an 87.75 percent stake in Envision.
Sistema has not commented on the purchase.
Incorporated in 1993, Sistema is one of Russia’s top-10 companies by revenue and is one of the largest publicly-traded diversified holding companies in the world. Sistema was ranked number 315 in the Fortune Global 500 list.