RDIF and Mitsui announce first Russian-Japanese Investment Platform deal
Japanese trading firm Mitsui has agreed to join The Russian Direct Investment Fund (RDIF) as investor in Cotton Way.
Cotton Way is a Russian commercial laundry and textile management company.
Mitsui will contribute to improve the operation and management of Cotton Way by introducing international best practices and offering experience and knowledge.
This transaction will be the first investment deriving from the Russian-Japanese Investment Platform (RJIP) which was created by RDIF, Vnesheconombank (VEB) and the Japan Bank for International Cooperation (JBIC) in 2013.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, says: "Mitsui's investment in Cotton Way brings significant strategic advantages that will enable the company to further strengthen its market leading position. This example of successful cooperation between Russia and Japan is another important step in continuing to strengthen the partnership between our two countries."
Hiroshi Meguro, chief regional representative in CIS countries of Mitsui, says: "We are excited to initiate this partnership with Cotton Way as the first deal under Russian-Japanese Investment Platform. Our business activities in Russia are already widely spread across sectors from natural resources to services. We will continue seeking attractive and meaningful investment opportunities in Russia as part of our strong partnership with RDIF."
Alexander Utkin, CEO of Cotton Way, says: "Mitsui represents not only a strategic investor for our company, but a strategic partner in the development of the Russian textile rental industry. We are confident that by partnering with Mitsui, which has proven expertise in working effectively in corresponding sectors, we will be equipped to take new steps in developing a progressive strategy for our company."