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Files under: Enterprise, Inside View, News
Posted by: Quintura @ 00:44 [24. 11. 08]
 When the economy is shrinking it’s good time for private equity investors to buy assets at a low valuation. There have been numerous reports in online media in Russia that ONEXIM Group is going to acquire Forbes. Here is the one confirmed by the Trud newspaper.
ONEXIM Group, which is led by Mikhail Prokhorov, is one of Russia’s largest private investment funds with a focus on mining industry, innovative projects in energy and nanotechnology, real estate and other industries. ONEXIM has more than $25 billion in funds under management.
In Russia, the Forbes magazine is published by Axel Springer Russia. The magazine web-sites Russian Newsweek and ComputerBild that are published by Axel Springer use the visual-based site search from Quintura.
ONEXIM Group has recently financed the launch of the Snob magazine in Russia. Next, coming are the Snob TV and muti-media online portal on Snob.ru.
In September 2008, ONEXIM Group acquired 50% of Renaissance Capital, the leading investment bank in the Russian, CIS and African markets for $500 million. The bank advised the shareholders of Mail.ru on a sale of 30% stake to media and Internet group Naspers.
Tags: Axel Springer Russia, Forbes Axel Springer, Mikhail Prokhorov, Mikhail Prokhorov ONEXIM, Naspers, ONEXIM Forbes, ONEXIM Group, ONEXIM Renaissance Capital, Russian Newsweek
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1 Russian investment firm ONEXIM to acquire Forbes? » VentureBeat Quintura @ 00:44 [24. 11. 08]
[...] Yakov Sadchikov, founder of Quintura, provides an English translation of the news. [...]
2 Russian giant Onexim in talks to acquire Forbes Quintura @ 00:44 [24. 11. 08]
[...] Yakov Sadchikov of Quintura who translated the reports notes that Onexim Group is one of Russia’s largest private investment funds with investments in the mining industry, energy, nanotechnology, real estate and other industries and has under $25 billion in funds under management. Onemix Group recently financed the launch of the Snob magazine in Russia. [...]
3 “Forbes to be acquired by Russian investment fund” Quintura @ 00:44 [24. 11. 08]
[...] the economy is shrinking”, Yakov Sadchikov from Russian blog Quintura writes, “it’s a good time for private equity investors to buy assets at a low valuation.” [...]
4 Sergiu Bagrin » Blog Archive » Forbes poate fi achizitionat Quintura @ 00:44 [24. 11. 08]
[...] [sursa: http://blog.quintura.com [...]
5 Finance Geek » Forbes ‘Absolutely Denies’ Wacky Russian Buyout Rumor Quintura @ 00:44 [24. 11. 08]
[...] Mikhail Prokhorov — had been rumored to be buying Forbes, according to Russian news reports translated by Yakov Sadchikov, CEO of Web search firm [...]
6 Talking Biz News » Forbes denies that it’s being sold to Russian Quintura @ 00:44 [24. 11. 08]
[...] least not according to Forbes itself, which is denying a report that Onexim Group, a private equity firm founded by Russian tycoon Mikhail Prokhorov, is set to buy [...]
7 Forbes Says Not Being Sold to the Russians – GigaOM Quintura @ 00:44 [24. 11. 08]
[...] Malik | Monday, November 24, 2008 | 4:48 PM PT | 0 comments Over the weekend, rumors emerged that private investor ONEXIM Group, led by Mikhail Prokhorov, was buying Forbes and its residual [...]
8 Malik does some fact checking: Forbes denies Russian connection Quintura @ 00:44 [24. 11. 08]
[...] newspaper Trud and spread rapidly through the blogosphere as soon as Yakov from the Quintura blog translated the article. With exciting though vague news like that, somebody needs to do some fact checking. [...]