Home  Issuers' Corner  Press Releases
CLOSE

Press Releases

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

December 28, 2011

Rusnano Foundation for Infrastructure and Educational Programmes and Rosatom become shareholders of Sistema’s Sarov Technopark

Moscow, Russia – December 28, 2011 – Sistema JSFC (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announces that the State Atomic Energy Corporation Rosatom (“Rosatom”) and Rusnano Foundation for Infrastructure and Educational Programmes have each acquired a stake in CJSC Sarov Technopark (“Sarov Technopark”), a subsidiary of Sistema, through an additional share issue.

Rusnano Foundation for Infrastructure and Educational Programmes and Rosatom become shareholders of Sistema’s Sarov Technopark

Moscow, Russia – December 28, 2011 – Sistema JSFC (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announces that the State Atomic Energy Corporation Rosatom (“Rosatom”) and Rusnano Foundation for Infrastructure and Educational Programmes have each acquired a stake in CJSC Sarov Technopark (“Sarov Technopark”), a subsidiary of Sistema, through an additional share issue.

Rosatom, via its subsidiary OJSC Technopark Technolgy, and Rusnano Foundation for Infrastructure and Educational Programmes, have each acquired a 25% +1 share stake in Sarov Technopark for approximately RUB 200 million respectively. As a result of this transaction, Sistema will retain a 50% -2 shares stake in the re-formed charter capital of Sarov Technopark. Both parties will acquire the rights of shareholders of the technology park after the Federal Service for Financial Markets registers a report following the additional issue of the Technopark’s shares.

Mikhail Shamolin, President and Chief Executive Officer of Sistema, commented: “The participation of Rusnano Foundation for Infrastructure and Educational Programmes and Rosatom in the charter capital of Sarov Technopark enables us to combine the capabilities of the State with that of a private business, to develop new large-scale projects, and to attract additional funding for their implementation. Furthermore, the joint expertise provided by our partners will enable us to realise synergies and reduce risks associated with investment and the furtherance of science and technology.” 

The shareholders’ key initiatives include creating a mechanism for joint financing and the development of projects, as well as their implementation on the basis of the cluster for R&D and manufacturing. Shareholders also plan to construct new infrastructure, to launch a supercomputer centre and to further develop management expertise for the running of the technology park.

CJSC Sarov Technopark (Satis, Nizhny Novgorod region) was established in 2004 by Sistema in cooperation with Rosatom and the government of Nizhny Novgorod region. The technology park has a total area of 50 hectares, which includes a complex of buildings and facilities with a total area of approximately 11.5 thousand square metres (which is expected to be expanded to 60 thousand square metres by 2015). The park’s residents comprise of 23 Russian and international high-tech companies with more than 200 employees. Total investments in Sarov Technopark have amounted to RUB 462 million, including Sistema’s contribution of RUB 136.5 million. The development of the Rosatom-Sistema cluster for R&D and manufacturing, which has had state funding of RUB 15 billion approved, is being implemented at the Sarov technology park. The park is a full member of the International Association of Science Parks (IASP).

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z



Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer