RUSSIA - Aurora backs OSG with $1m

Headquartered in Moscow, OSG has offices in Poland, Ukraine, Kazakhstan, China, Bulgaria, Saudi-Arabia and Turkey. The recent capital injection will fund further warehouse racking to meet growing storage demand, as well as strengthen the company's presence in the core markets Russia, Ukraine and Kazakhstan.

In 2006, Aurora has invested £7.7m into OSG, of which £6m was an equity injection and the remaineder was in the form a convertible loan facility. If the loan is converted, Aurora's stake in the business would increase to approximately 50%, up from 39.4%.

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• Topics
• Expansion
• CEE