Volga Group
 | |
| Company type | Private |
|---|---|
| Industry | Energy; Industrials; Financial services; Consumer Goods |
| Founded | 2007 |
| Headquarters | Luxembourg, Luxembourg |
Key people | Gennady Timchenko (shareholder), Chlodwig Reuter (Chairman) |
Number of employees | around 90,000 |
| Website | Volga-Resources.com |
Volga Group is a privately held investment vehicle that manages assets on behalf of the businessman Gennady Timchenko.[1]
History
[edit]Volga Group was established as Volga Resources in 2007, and renamed as Volga Group in June 2013.[2] The group consolidates Gennady Timchenko's assets and makes investments in financial services; industrials and construction; trading and logistics; consumer goods; and energy.[3][4] Gennady Timchenko noted that for the next few years, his group will focus on the development of infrastructure projects in Russia.[5]
Major assets
[edit]Among Volga Group's major assets are a 23% stake in Novatek,[6] Russia's second-largest producer of natural gas; 15.3% of petrochemicals company Sibur,[7] 50% of the gas company Petromir, and 60% through the joint venture with Gunvor in the coal company Kolmar.[8][9]
Other investments include 63% of construction company STG Group, 31.5% of CJSC Stroitransgaz, 60% of the rail company Transoil, 100% of beverage maker Aquanika, 79% of timber company Rörvik Timber, 25% of construction companies ARKS Group and SK MOST Group, 60% of aviation company Avia Group, 49.1% and 12.5% of insurance companies Sovag[10] and Sogaz, and 9% of Rossiya Bank.[11][12] It also owns 50% of Hartwall Arena in Helsinki and Helsinki Jokerit hockey team.[13]
Key people
[edit]Gennady Timchenko is the founder and main shareholder of Volga Group.[14] Chlodwig Reuter is the chairman of the board of Volga Group.[15] and Sven Olsson.[16]
References
[edit]- ^ BFM.ru: "Gennady Timchenko: 'We understand that a reputation is the most important thing for a businessman'"
- ^ "Коммерсантъ: последние новости России и мира". Коммерсантъ.
- ^ "Gennady Timchenko". Forbes.
- ^ "Тимченко упаковал все активы в Volga Group". Ведомости.
- ^ "Gennady Timchenko " We understand that the most important thing is a businessman's reputation"".
- ^ Marson, James (June 19, 2013). "Novatek: The Challenger Takes on Gazprom". Wall Street Journal – via www.wsj.com.
- ^ "Vedomosti: Timchenko disposes of petrochemicals (in Russian)".
- ^ "Sergey Tsivilev Appointed CEO at Kolmar" (Press release). Volga Group. 2014-01-23. Retrieved 2014-03-22.
- ^ "Volga-Resources.com |". volga-resources.com.
- ^ "Тимченко переведет управление своими активами в Россию". Lenta.RU.
- ^ The Moscow Times: "Timchenko Moves Headquarters to Moscow"
- ^ "срок регистрации доменного имени volga-resources.ru истек". volga-resources.ru.
- ^ Viita, Kasper (2013-06-28). "Putin Allies Buy Finnish Hockey Team to Play for Russian Title". Bloomberg. Retrieved 2014-03-22.
- ^ ""Просто мы доверяем друг другу"". Коммерсантъ. October 10, 2013.
- ^ Bloomberg Businessweek profile[dead link]
- ^ Bloomberg Businessweek: Sven Olsson biography