Gazprombank (GPB) and United Capital Partners (UCP) have acquired a Russian construction holding company within the Stroygazkonsalting (SGK) group.
The holding company has been tasked with arranging oil and natural gas fields, along with the building and development of pipelines and compression stations.
"Together with our partners, we will make every effort to ensure the long-term growth in shareholder value of (SGK)," Catherine Mills, GPB's first vice president, said. "The introduction of modern management principles and the restructuring of relationships with lenders will allow, in the medium term, to ensure stable operations of the group."
SGK President Mikhail Yakibchuk said partnerships with both GPB and UCP will be welcome additions to the company that will likely entail growth and improved transparency and services to its partners and its clients.
'The combination of SGK's years of experience with the financial resources and expertise of Gazprombank and the management of portfolio companies by UCP will strengthen the group's position in the Russian market," Victoria Lazareva, UCP's managing director of private investments, said.