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Breaking: Onexim to Acquire RBC, Russia’s Leading Internet and Business Media

Files under: News
Posted by: Quintura @ 11:23 [21. 07. 09]

rbcThe private investment vehicle of Russian billionaire Mikhail Prokhorov, Onexim Group has agreed to acquire a 51 percent stake in RBC for $80 million, via an issue of new shares. The deal was agreed with the founding shareholders and top managers of RBC, German Kaplun, Alexander Morgulchik and Dmitry Belik, announced the group. The completion of the deal will be a subject to approval by creditors of RBC, which will be offered to initially get paid back $44 million or 20 percent of RBC debts of $220 million.

RBC reported revenues of $109 million with EBITDA margin of 30% in the first half of 2008. As a result of the deal, Onexim would receive a majority in RBC’s Board of Directors, while current top managers will continue managing the RBC operations, subject to a new business plan.

RBC broadcasts business news channel RBC TV and publishes business daily newspaper RBC Daily. In Internet, RBC publishes business news portal RBC.ru with over 6 million monthly visitors, hi-tech news site CNews.ru, auto news site Autonews.ru, financial news site Quote.ru, etc.

RBC also operates more than 15 general interest Internet resources and services, including instant messaging service QIP.ru, video sharing service Smotri.com, email service Pochta.ru, dating service Loveplanet.ru, news aggregation service Readme.ru, photo sharing service Photofile.ru, online daily newspaper Utro.ru, blogging service Fishki.net and social network for children Tvidi.ru.

RBC also owns 20% share of Russian web hosting market as well as operates domain name registration services. RBC owns Internet payment system RBC Money, online gaming and marketing research store.

In 2008, Onexim acquired nano-technology company OptoGaN.

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