A1 Ceased to be a Shareholder of Gras Group of Companies
A1 Investment Company announces that it is selling its shareholding in Gras Group of Companies. Gras Group is a major developer and producer of construction materials.
The Group was established in 2005 and by now has carried out two significant development projects in Sochi – residential complexes “Alexandriyskiy Mayak” and “Novaya Alexandria”, and has also built and put into commission 2 autoclaved aerated concrete plants (with the annual capacity of 450 thousand m3 each). Currently, plans of Gras Group of Companies include such development projects as construction of business-class residential complexes in Moscow and Sochi with the total area of 430 thousand sq. meters.
Originally, A1 considered the acquisition of a shareholding in a large development company Gras as a financial investment on the growing and having a huge potential real estate market. The existing market situation allowed the company to sell this asset on maximum favourable terms in accordance with the planned revenue targets.
A1 is one of the leading players on the investment market in Russia and the CIS making equity investments in various industries, pursuing the interests of its shareholders, clients and partners. A1 focuses on investment projects of two types: special situations and growth strategies. Alfa-Bank (Russia), TNK, VimpelCom, Perekrestok and Rosvodokanal Group were originally A1 projects that later became strategic businesses for Alfa Group as well as core companies for the wider Russian economy. A1’s long-term interests are aimed at establishing strong and competitive businesses, producing modern and very high quality goods and services to satisfy Russia’s growing demand, and developing efficient organizational and management systems.