Vimpelcom's KarTel

Haven't been following Eastern Europe lately..but we do have some news there as well.

Alex Izosimov has not wasted time in getting back a bigger stake in Kar-Tel. VimpelCom said it has increased its stake in the Kazakh subsidiary to 74.9 percent, VimpelCom bought a 24.9 percent stake from Cyprus-registered Limnotex Developments Ltd. The company previously held 50 percent plus one share in Kar-Tel.

It must be noted that VimpelCom had formerly owned 100% of Kar-Tel, the second largest cellular operator in Kazakhstan, which it acquired in September 2004 for US$350mn plus US$75mn in debt. It later sold a 50% minus one share to Crowell, a Cypriot company owned by shareholders of Kazakhstan's ATF Bank.

Mapletree and Arcapita form JV to hold JTC industrial portfolio

Mapletree Investments has formed a joint venture with Arcapita Bank of Bahrain to hold a portfolio of industrial properties bought from JTC Corp.
The assets are worth a combined 1.7 billion Singapore dollars.
Arcapita will hold a 56.5 per cent stake in the joint venture called Mapletree Industrial Trust (MIT).
Mapletree will own 25.1 per cent, while the rest will be held by Mapletree Industrial Fund, a pan-Asian private real estate industrial fund sponsored by Mapletree.
In a statement, Mapletree said the acquisition of JTC’s industrial property portfolio, which was announced in April, has been completed.
The properties include 39 blocks of flatted factories, 12 amenity centres, three multi-tenanted business park buildings and one warehouse building.
The assets have been officially transferred to MIT on July 1. Mapletree Industrial Fund Management will manage the properties. - CNA/vm