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Banking and Finance

Finnish packaging company Huhtamaki sells films business

HELSINKI, Nov 24 (Reuters) – Finnish packaging company Huhtamaki, known for making paper cups for McDonald’s, has agreed to sell its films business in a deal led by German private equity company Deutsche Beteiligungs AG for 141 million euros ($175 million). The business, which contributed 187 million euros of the group’s 2.3 billion euros in […]

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Rambler & Co seeks startups in its shift to becoming an Internet tech firm

Rambler & Co, a major Russian tech media group, is seeking to move away from its present status as a media company towards Internet technologies. As reported by Russian daily Vedomosti, the company is creating two startup accelerators to achieve this goal. Speaking at an event hosted by the $200 million government-backed startup fund FRII […]

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Russia’s Imperious Group injects $400,000 in American-Ukrainian private jet service startup Jetme

In California, Ukrainian developers have launched the startup JetMe, a service which allows users to reserve and pay for flights on private jets to any point around the globe. One of the startup’s founders is Yuriy Romanyukha, an associate for Russia-based fund Imperious Group. Almost immediately after the project launched, JetMe obtained $400,000 in funding from this fund […]

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Photo-Sharing App Memoir Snags $5.5 Million To Help You Recall The Past

Photo-sharing application Memoir, a Timehop competitor that allows you to rediscover old photo “memories,” has raised an additional $5.5 million in a round led by Redpoint Ventures’ Ryan Sarver. Others participating included prior investors Founder Collective, Box Group, Lerer Ventures and Thrive Capital. The company had previously raised $1.2 million in seed funding. Formerly the […]

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Chinese Investors May Gain Access to Russian Hydroelectric Assets

The Moscow Times RusHydro, one of Russia’s largest power generating companies, is set to offer a majority stake in its far-eastern subsidiary to Asian investors, a news report said Friday. The asset in question is RAO Energy Systems of the East, in which RusHydro has an 84 percent stake. The company, which unites several hydropower […]

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BRIEF-Ratos acquires Finnish LED optics company Ledil

Ratos acquires Ledil Says purchase price (enterprise value) for 100% of company amounts to eur 97m, of which ratos will provide equity of approximately EUR 50m * To acquire approximately 67% of the shares in the Finnish LED optics company Ledil Oy from the company’s founders * In the split financial year 2013/2014, Ledil’s sales […]

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UN spins off humanitarian news service after $25 mln investment

GENEVA, Nov 20 (Reuters) – The United Nations will spin off its humanitarian news service IRIN as an independent Swiss-based foundation after getting a $25 million 15-year investment from a Hong Kong-based philanthropist. The deal aims to leave the United Nations to concentrate on core humanitarian work while allowing IRIN, which began by faxing news […]

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Eric Schmidt’s Farm2050 Collective Will Back Agriculture Tech To Feed Earth’s Growing Population

We’ll need to produce 70% more food by 2050 to sustain a world population expected to grow to 10 billion. Yet agriculture startups struggle to get the funding, manufacturing, and test facilities needed to build tech that could boost food production. To fix that disconnect, Google Chairman Eric Schmidt’s Innovation Endeavors and Flextronics Lab IX […]

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Key Russian companies to take part in LeWeb 2014 next month in Paris

East-West Digital News LeWeb is among the biggest international conference for digital and technological innovations, as well as market investors. Its next edition will take place in Paris on Dec. 9-11. In 2014, Russia, as an official guest of LeWeb, will present the Russian market within the “European track” business program. The leading company representatives will talk about […]