Economic Crisis and Foreign Investors

foreign investors: The share sale comes as foreign investors have largely turned sour on Russia because of a standoff over Ukraine and an economic crisis deepened by a slump in oil prices and Western sanctions imposed over the Ukraine crisis. , according to The Moscow Times. Funds from Britain bought 53 percent of the shares sold while U.S. investors acquired 26 percent, said book-runner VTB Capital, the investment arm of Russian bank VTB. Russia top food retailer Magnit attracted strong demand from foreign investors as its founder and CEO sold a 1 percent stake to fund his own projects. Magnit said Thursday that Cyprus-based Lavreno Ltd, affiliated with its biggest shareholder and founding chief executive Sergei Galitsky, had raised 9.8 billion rubles $143 million by selling down its stake to fund a separate investment. (news.financializer.com). As reported in the news.