Cartesian Capital and the Russian Direct Investment Fund (RDIF) have acquired minority stakes in the Moscow stock exchange MICEX-RTS from ZAO UniCredit Bank.
The investment is the second the RDIF has made in the stock exchange, having originally backed it in its debut deal last year. As a result of the deal, the RDIF will own 2.7 per cent of MICEX-RTS, Cartesian will own some 2.5 per cent, while UniCredit will reduce its stake to 6.2 per cent.
“With its strong market-leading position, MICEX-RTS is both central to Russia’s continued development as a regional and global financial centre and an attractive IPO candidate. Even in times of continued economic uncertainty, well-managed exchanges can thrive. RDIF is an ideal value-added partner for institutional investors entering Russia and we will work closely with them in the continued development of the exchange,” said Peter Yu, managing partner of Cartesian.
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