Potanin becomes first Russian tycoon to invest in Iranian companies

Russian billionaire Vladimir Potanin has become the first Russian investor to close deals acquiring stakes in Iranian companies since international anti-Iran sanctions were lifted, Russian media said Wednesday.

MOSCOW (Sputnik) – Winter Capital Partners (WCP), owned by Potanin, has invested in the Swedish-based Pomegranate Investment AB, which, in turn, owns nearly 10 percent of Iran’s Sarava company with stakes in over a dozen Iranian web companies and a controlling stake in the Iranian Digikala online retailer, WCP Managing Director Vasily Nikolaev told the Kommersant newspaper.

Another source familiar with the deal told the newspaper that the deal was closed in March.

Earlier in May, Pomegranate Investment announced the results of its pre-IPO placement, which drew some 60 million euros ($67 million) from investors. An IPO has been scheduled later this year.

WCP was created by Potanin in 2015. The company has invested over $300 million so far, according to Nikolaev. The WCP portfolio includes a pharmaceutical company engaged in supplying flu vaccines, which may transfer production to the country.

International investors have flocked to Iran after the lifting of international sanctions against the state. In January, the European Union, the United Nations and the United States lifted sanctions from Iran following the implementation by Tehran of its obligations under the nuclear deal signed with six world powers to ensure the peaceful nature of the Iranian nuclear program.

By Sputnik News

Source Article from http://theiranproject.com/blog/2016/05/25/potanin-becomes-first-russian-tycoon-to-invest-in-iranian-companies/

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