RDIF and FIBA Holding Invest in Auto Partners under the Partnership Agreement

Press release, 08.04.2019

Moscow, April 8, 2019 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, has signed a cooperation agreement with Turkish group of companies FIBA Holding, under which the parties intend to jointly search for and develop attractive investment projects in Russia. The corresponding agreement was signed today as part of President of the Republic of Turkey Recep Tayyip Erdogan’s official visit to the Russian Federation.

The first project under the agreement is investment in Auto Partners, one of the leading companies in the Russian market for operating car leasing. RDIF and FIBA Holding will acquire a 20.6% stake in Auto Partners. JSC “Credit Europe Bank” (CEB), the existing owner of the company, controlled by FIBA Holding, will retain a 79.4% stake. 

The agreement will ensure roll-out of Auto Partners' ambitious development strategy aimed at tripling of the Russian business over five years. With a client portfolio of more than 120 companies, Auto Partners is currently one of the leaders in the fast growing operating leasing market.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

“We observe positive dynamics in the development of operating leasing business in Russia. We believe that this agreement will significantly enhance Auto Partners’ competitive advantages. The joint investment will enable the company to achieve its growth targets, while its clients will benefit from increased efficiency of fleet operations and lower costs. Together with our Turkish partners we will keep looking for new perspective investment opportunities.”

Hüsnü Özyeğin, Chairman of the Board and Founder of FIBA Holding, said:

“We are seeing this transaction as a step towards extended collaboration between Russia and Turkey in general and RDIF and FIBA Holding in particular. Operational leasing is a very dynamic business with significant growth opportunity and value proposition for both its shareholders and its customers. We believe that this partnership will grow the market by extending usage of operational leasing by Russian companies, and our partnership will benefit from this.”

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Russian Direct Investment Fund (RDIF)is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than 1.5 trillion rubles and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 700,000 people and generate revenues which equate to more than 5% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than 40 billion dollars. Further information can be found at www.rdif.ru

FIBA Holding

The FIBA Group, a well-established player in both Turkey and international markets, was founded by Hüsnü Özyeğinin 1987. The Group controls an investment portfolio of high-value brand names in both financial and non-financial sectors. The FIBA Group investments in the financial services industry are in banking, leasing, factoring and insurance. Its non-financial investments are in retail, real estate,and energy. Today, FIBA Group operates in 12 countries ranging from the Netherlands to Chinaand employs over 12,000 people from 55 nationalities. FIBA Holding is investing in Russian economy for more than 20 years. Its subsidiaries in Russia include Credit Europe Bank, Credit Europe Leasing, Credit Europe Life, Ikano Bank (in partnership with Ikano Group), Oney Bank (in partnership with Auchan Group), and FIBA Retail Group that operates the Marks & Spencer, Gap and Banana Republic brands in Russia. Further information can be found at www.fibaholding.com.tr

For additional information contact:


Arseniy Palagin                                     Maria Shiryaevskaya / Andrew Leach
Russian Direct Investment Fund           Hudson Sandler
Press Secretary                                    Tel: +44 (0) 20 7796 4133 
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Deniz Yuksekkaya                                                  Yuliya Alekseeva
Fiba Holding                                                            Credit Europe Bank
HR and Corporate Communications Director          Head of Marketing Department
Tel: +90 212 339 19 31                                         Tel: +7 910 492 8157
E-mail: deniz.yuksekkaya@fibaholding.com.tr       pressoffice@crediteurope.ru