Elbrus Capital announced the divestment of stake in Mail.ru Group Limited
18 November 2010
The private equity fund advised by Elbrus Capital has divested its stake in Mail.ru Group Limited (formerly Digital Sky Technologies Limited) in the initial public offering of Mail.ru Group on the London Stock Exchange. The fund invested in Mail.ru Group in 2007.
Mail.ru Group is the largest internet company in the Russian-speaking world with the #1 Russian portal and leading positions in social networking, online games, e-mail, instant messaging and other segments. Over the last few years Mail.ru Group’s value increased through high organic growth of Mail.ru portal, its original platform and through targeted acquisitions in the attractive high growth internet sub-sectors, including acquiring Odnoklassniki and Vkontakte in social networking, Astrum Online in gaming and ICQ in messaging.
Dmitri Krukov, Managing Partner of Elbrus Capital, commented: “We are delighted to announce the successful first exit from the fund’s portfolio. Mail.ru Group represents one of the best Russian business success stories and we are glad to be part of it. We believe that this USD 1 billion IPO, valuing Mail.ru Group at nearly USD 6 billion, highlights attractiveness and scale of opportunities in Russia for institutional private equity.”
About Elbrus Capital
Elbrus Capital is a leading Russia and CIS focused private equity business. Elbrus Capital advises a leading private equity fund in Russia and CIS with $324 million raised from international institutional investors.
Elbrus Capital focuses on market leaders, looking for further growth and consolidation opportunities. The portfolio of the fund advised by Elbrus Capital consists of investments in a leading Russian internet company, an automotive retailer in Siberia and Media-One, a Russian media company active in TV (MuzTV, 7TV channels) and radio.
For more information please visit www.elbcp.com.
Should you have questions, please contact Ilya Novokhatsky, DNA Communications, Elbrus Capital public relations representative, tel.: +7 925 5181798, e-mail: firstname.lastname@example.org.
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