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ONEXIM Group announces the sale of OPIN
ONEXIM GROUP announces closure of the deal on the sale of 90,99% shares of OPIN. The shares were bought by Romàn Àvdeev. As part of the deal, ONEXIM sold all of its OPIN shares, while the buyer obtained the right for the entire land bank and all of the developer projects, including Torpedo.
OPIN is one the major developer groups in the Moscow region. At present, the overall footage of the company’s development projects spans over 500 000 sq. meters. The company's focus is on the development of high quality multi-format housing, backed up by the commercial and social infrastructures.
OPIN is the first public developer in Russia, trading on MICEX. Mikhail Prokhorov's companies had been the initial investors of OPIN as of the moment of its creation in 2002. As of 2008, the controlling interest of the company had been held by ONEXIM, during which time OPIN has launched a whole range of successful and prominent projects, firmly establishing OPIN's status as one of the leaders on the Russian highly competitive development market.
Dmitry Razumov, CEO of ONEXIM Group said: “After getting a lucrative offer from a strategic investor, we decided to sell the asset. We’d like to thank OPIN’s management, employees partners and clients for their contribution to the company's success, hoping for their further growth and development.»
Source: PRESS RELEASE