VTB Capital, NOOH Investments Coöperatief and Marathon Outdoor Co?peratief have purchased a 79% stake in News Outdoor Russia belonging to News Corporation.
News Outdoor Russia will interact with the federal and municipal authorities to implement programmes aimed at improving the appearance of cities and introduce the latest technological solutions for building advertising constructions.
The Board of Directors has appointed Yevgeny Senderov of VTB Capital as president of News Outdoor Russia.
Yuri Soloviev, First Deputy President and Chairman of the Management Board of VTB Bank, Chairman of VTB Capital holding companies Board of Directors, said: “The purchase of this stake in News Outdoor Russia is the next step in implementing VTB Capital’s strategy to broaden our asset management business through direct investments into private companies.”
Tim Demchenko, Head of Private Equity and Special Situations at VTB Capital, noted: “Jointly with their partners, VTB Capital intends to work actively in the Russian outdoor advertising market, continuing to raise the standards of corporate management and information transparency in the industry with due consideration of international experience”.
News Outdoor Russia is Russia’s largest outdoor advertising operator that is present in over 50 cities of the Russian Federation. The advertising market in Russia continues to demonstrate significant growth potential in line with the growth of the Russian economy.