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From: Marianna Fazylova <mfazylova@rosemontcapital.com<mailto:mfazylova@rosemontcapital.com>>
Date: November 25, 2012, 4:42:29 PM EST
To: Devon Archer <darcher@rosemontcapital.com<mailto:darcher@rosemontcapital.com>>
Subject: Article on Chemezov (Rostechnologii)

http://www.ft.com/intl/cms/s/0/fbd6059e-2db4-11e2-9988-00144feabdc0.html#axzz2DGyipxVv

A close Putin ally since the two men served as KGB operatives in East Germany and an influential part of an elite group of former spies and security men known as the Siloviki, Mr Chemezov insists his state-owned holding was not created as a vehicle for grabbing assets.


“Most of the enterprises we acquired were either bankrupt or on the verge of bankruptcy – and on the eve of the crisis [in 2009] if we had not taken them, the majority of these enterprises would not exist today.”


Once the 660 assets have been consolidated into 17 holding companies, stakes will be sold to foreign investors in initial public offerings or strategic sales.