Moscow Times
The Russian Direct Investment Fund, the European Bank for Reconstruction and Development and the CapMan Russia II fund have signed an agreement to invest $100 million in Maykor — a Russian IT outsourcing service provider, with a view to list the company on the Moscow Exchange within the next three years, RDIF’s Director Sean Glodek said Monday.
The RDIF, Russia’s state owned investment fund, will commit $50 million, and EBRD and CapMan will invest $25 million each over the next 12 months.
RDIF has selected a market leader in the Russian IT equipment outsourcing and maintenance, said Glodek. Aimed at stimulating organic growth, the injection of funds will also allow the company to expand through acquisitions, while “longer term, as Maykor develops, we expect to attract more quality co-investors on top of the initial $100 million,” he added.
In return, the consortium will receive a “significant equity position in the company, with corresponding voting rights and representation on the board of directors,” Glodek added.
Sberbank CIB estimated Maykor’s market value at from $300 to $400 million, excluding debt. The investment would therefore give the consortium about a 25 percent stake, Vedomosti reported.