Volga Group
 | |
| Company type | Private |
|---|---|
| Industry | Energy; Industrials; Financial Services; Consumer Goods |
| Founded | 2007 |
| Headquarters | Luxembourg, Luxembourg |
Key people | Gennady Timchenko (shareholder), Chlodwig Reuter (Chairman) |
Number of employees | around 90,000 |
| Website | Volga-Resources.com |
Volga Group is a privately held investment vehicle that manages assets on behalf of the businessman Gennady Timchenko.[1]
History
Volga Group was established as Volga Resources in 2007, and renamed as Volga Group in June 2013.[2] The group consolidates Gennady Timchenko's assets and makes investments in financial services; industrials and construction; trading and logistics; consumer goods; and energy.[3][4] Gennady Timchenko noted that for the next few years, his group will focus on the development of infrastructure projects in Russia.[5]
Major assets
Among Volga Group's major assets are a 23% stake in Novatek,[6] Russia's second largest producer of natural gas; 15.3% of petrochemicals company Sibur,[7] 50% of the gas company Petromir, and 60% through the joint venture with Gunvor in the coal company Kolmar.[8][9]
Other investments include an 63% of construction company STG Group, 31.5% of CJSC Stroitransgaz, 60% of the rail company Transoil, 100% of beverage maker Aquanika, 79% of timber company Rörvik Timber, 25% of construction companies ARKS Group and SK MOST Group, 60% of aviation company Avia Group, 49.1% and 12.5% of insurance companies Sovag[10] and Sogaz, and 9% of Rossiya Bank.[11][12] It also owns 50% of Hartwall Arena in Helsinki and Helsinki Jokerit hockey team.[13]
Key people
Gennady Timchenko is the founder and main shareholder of Volga Group.[14]
Chlodwig Reuter is the Chairman of the Board of Volga Group.[15] Sven Olsson[16] and Paul Mousel are Board members.[17]
References
- ^ BFM.ru: "Gennady Timchenko: 'We understand that a reputation is the most important thing for a businessman'"
- ^ Kommersant factbox on Volga Group
- ^ Forbes profile of Gennady Timchenko
- ^ "Timchenko bundles all assets in Volga Group".
- ^ "Gennady Timchenko " We understand that the most important thing is a businessman's reputation"".
- ^ WSJ: "Novatek: The Challenger Takes on Gazprom"
- ^ Vedomosti: Timchenko disposes of petrochemicals (in Russian)
- ^ "Sergey Tsivilev Appointed CEO at Kolmar" (Press release). Volga Group. 2014-01-23. Retrieved 2014-03-22.
- ^ Volga Group: Investments
- ^ Lenta.ru: Timchenko brings management of his assets to Russia (in Russian)
- ^ The Moscow Times: "Timchenko Moves Headquarters to Moscow"
- ^ Investments: Financial Services
- ^ Viita, Kasper (2013-06-28). "Putin Allies Buy Finnish Hockey Team to Play for Russian Title". Bloomberg. Retrieved 2014-03-22.
- ^ Kommersant: "Simply put, we trust each other"
- ^ Bloomberg Businessweek profile
- ^ Bloomberg Businessweek: Sven Olsson biography
- ^ Volga Group management board