Nafta Moskva, the Russian oil and bank group controlled by billionaire Suleiman Kerimov, has acquired a 25% stake in Russian property developer Pik Group. In a statement on Wednesday, the company said the stake was sold by its main shareholders, Chief Executive, Kirill Pisarev and Chairman Yury Zhukov. There will be no changes to PIK Group's management team, the group added.
Nafta Moskva, the Russian oil and bank group controlled by billionaire Suleiman Kerimov, has acquired a 25% stake in Russian property developer Pik Group. In a statement on Wednesday, the company said the stake was sold by its main shareholders, Chief Executive, Kirill Pisarev and Chairman Yury Zhukov. There will be no changes to PIK Group's management team, the group added.
'The new strategic shareholder has significant experience in crisis management, which will enable Pik to resolve more effectively current challenges relating to business development and the execution of further residential projects across Russia,' it said.
Pik will maintain its focus on large-scale economy-class residential projects in Moscow and the Moscow region, as well as in other regions of Russia. In the long term it intends to increase that activity.
