Volga Group
TypePrivate
IndustryEnergy; Industrials; Financial services; Consumer Goods
Founded2007
HeadquartersLuxembourg, Luxembourg
Key people
Gennady Timchenko (shareholder), Chlodwig Reuter (Chairman)
Number of employees
around 90,000
WebsiteVolga-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 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] and Sven Olsson.[16]

References

  1. ↑ BFM.ru: "Gennady Timchenko: 'We understand that a reputation is the most important thing for a businessman'"
  2. ↑ "Коммерсантъ: последние новости России и мира". Коммерсантъ.
  3. ↑ "Gennady Timchenko". Forbes.
  4. ↑ "Тимченко упаковал все активы в Volga Group". Ведомости.
  5. ↑ "Gennady Timchenko " We understand that the most important thing is a businessman's reputation"".
  6. ↑ Marson, James (June 19, 2013). "Novatek: The Challenger Takes on Gazprom". Wall Street Journal – via www.wsj.com.
  7. ↑ "Vedomosti: Timchenko disposes of petrochemicals (in Russian)".
  8. ↑ "Sergey Tsivilev Appointed CEO at Kolmar" (Press release). Volga Group. 2014-01-23. Retrieved 2014-03-22.
  9. ↑ "Volga-Resources.com |". volga-resources.com.
  10. ↑ "Тимченко переведет управление своими активами в Россию". Lenta.RU.
  11. ↑ The Moscow Times: "Timchenko Moves Headquarters to Moscow"
  12. ↑ "срок регистрации доменного имени volga-resources.ru истек". volga-resources.ru.
  13. ↑ Viita, Kasper (2013-06-28). "Putin Allies Buy Finnish Hockey Team to Play for Russian Title". Bloomberg. Retrieved 2014-03-22.
  14. ↑ ""Просто мы доверяем друг другу"". Коммерсантъ. October 10, 2013.
  15. ↑ Bloomberg Businessweek profile
  16. ↑ Bloomberg Businessweek: Sven Olsson biography
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