Viktor Vekselberg plans to spend $1B on new projects

Print 01 April 2013
Venture News

Viktor Vekselberg, the former co-owner of TNK-BP who received about $7B for his stake in the company, plans to invest part of the funds in its energy business (IES-Holding), and $1B in new projects in Russia, Bloomberg reports.

We are definitely going to invest in our energy business in Russia, which has an extensive investment program, - Viktor Vekselberg says in an interview with the agency.

According to him, the next investment direction will be high technologies, including engineering and new technologies. We have some ideas related to fundamentally new directions, where we hope to succeed, - the businessman says.

As he previously reported, the first deal of Renova with the money raised from the sale of TNK-BP will be announced soon. There are three areas for future investment: high-tech engineering, biomedicine and IT.

V. Vekselberg received about $7B from the sale of TNK-BP. The amount received from Rosneft includes $709M previously paid as TNK-BP dividends, as well as the interest agreed at the signing - 3.75 % per annum of $28B for the period from October, 16 until closing of the transaction. 

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