RUSSIAN FINANCIAL CONGLOMERATE AFK SISTEMA TO EXPAND INTO DOMESTIC TEXTILE BUSINESS
June 1st, 2018
THE RUSSIAN financial conglomerate AFK Sistema, owned by billionaire Vladimir Evtushenkov, plans to expand into the country’s textile manufacturing business through the acquisition of a controlling stake in Vologda Textile, one of Russia’s largest and oldest textile producers. According to sources close to AFK Sistema, the company is interested in a 51% stake in the mothballed north-west Russia-based Vologda Textile - its first investment in the textile sector.
The plans have been confirmed by the vice president of AFK Sistema, Artem Sirazutdinov, who wrote ...
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