Amtel-Vredestein Secure Investment

Amtel has secured a sum of private equity capital totaling US $70 million (£40 million). Following its recent acquisition of Vredestein the company has arranged equity financing from two leading groups, Alfa Group and Temasek Holdings, representing both domestic and international investors.

Alexei Gurin, Amtel-Vredestein’s CEO, stated: “Investments by Alfa and Temasek in Amtel-Vredestein demonstrate these investors’ confidence in the company’s business and strategy. This broadening of the company’s shareholder base confirms the position of Amtel-Vredestein group as a pan-European company. We expect that Alfa and Temasek’s involvement with the company will further enhance its standards of corporate governance. Amtel –Vredestein management feels encouraged by this sign of investment community confidence.”

Amtel is Temasek’s, an Asian investment group, first direct private investment in Russia. Manish Kejriwal, managing director of Temasek Holdings, commented: “It was important that we partnered with a company with an ethical and strong management team that was backed by other well-respected investors. We have confidence in Amtel’s growth prospects and we are excited about the opportunities we are seeing as the Russian economy continues to do well, particularly in segments driven by growth in consumer demand.”

Temasek and Alfa-Bank join a list of other leading private equity and investment firms that have invested in Amtel including Templeton Asset Management, Citicorp International Finance Corporation (part of Citigroup) and Troika Dialog.