2007 February
Quadriga Capital Russia sells its shares in MorionQuadriga Capital Russia, managing Funds of the European Bank for Reconstruction and Development (EBRD), has announced the sale of a 52.17% stake in JSC Morion (St, Petersburg, Russia). The shares have been purchased by “Finproject”, a 100% daughter of “Gazprombank”. Further details of the transaction have not been disclosed.
About Morion
JSC Morion is one of the word leaders in the production of high-precision quartz devices which find application in a wide range of space-, aviation- and terrestrial communication systems. Apart from EBRD, shareholders of Morion are Frequency Electronics, Inc. (NASDAQ: FEIM), members of the management team and private investors. According to preliminary data, in 2006 Morion generated revenues of USD 14.4 million.
About Quadriga Capital Russia
Quadriga Capital Russia is a sister company of the Frankfurt based Quadriga Capital and has been active in managing private equity funds in the Russian Federation since its inception in 1995. Quadriga Capital Russia is advising the new Fund II founded in 2006 for direct investments in Russian private companies. Investors in the Fund are the EBRD, the International Finance Corporation, 3i and a number of other institutional and private investors. The Fund has USD 136.0 million under management which are to be invested in Russian medium sized enterprises. Quadriga Capital Russia maintains offices in St. Petersburg, Moscow and Nizhni Novgorod.
About Gazprombank
GAZPROMBANK, Gazprom’s authorized bank, is one of the three largest Russian banks. On Sept. 11, 2006 Standard & Poor’s and Moody’s Investors Service awarded “Gazprombank” the long term credit ratings at BB level. The Gazpormbank regional network consists of more than 300 outlets in 48 Russian regions. Back to news & events list »»» This event – see also:
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