RDIF, partners to buy part of CBR stake in Moscow Exchange – source

Interfax, 02.07.2014

MOSCOW. July 2 (Interfax) - The Russian Direct Investment Fund (RDIF) and its foreign partners, who bought into the IPO of the Moscow Exchange (MOEX: MOEX) last year, plan to acquire part of the stake in the exchange being offered for sale by the Central Bank of Russia (CBR), a source familiar with the situation told Interfax.

The RDIF declined to comment. RDIF chief executive Kirill Dmitriev told reporters last week that he believes the Moscow Exchange to be an "interesting target for further investment."

The RDIF invested $80 million in Moscow Exchange's IPO in February 2013 and brought investors with another $200 million to the deal. The RDIF's stake in the exchange following the deal grew to 4.5% from 2.8%.

Chinese investment corporation CIC and BlackRock, which invested in the exchange prior to its public offering, took part in the IPO with RDIF. The RDIF also brought the Oppenheimer fund into the deal.

The CBR announced plans on Tuesday to sell shares in Moscow Exchange in several transactions. The CBR is engaging Goldman Sachs, J.P. Morgan, VTB Capital and Sberbank CIB as financial advisers, and Gazprombank (MOEX: GZPR) and Citigroup will act as co-managers.