Russia’s Potanin snaps up third finance deal amid Ukraine turmoil

Interros President Vladimir Potanin answers journalists’ thoughts in the course of the Reuters Russia Financial investment Summit in Moscow September 27, 2012. REUTERS/Alexey Petrov

LONDON, Might 2 (Reuters) – Russian billionaire Vladimir Potanin’s Interros team claimed on Monday it experienced bought United Card Companies, part of Worldwide Payments Inc (GPN.N), its third offer in 3 weeks as it snaps up financial property from potential buyers exiting the Russian current market.

Global Payments confirmed it was exiting its Russian enterprise as it released its 1st quarter effects on Monday. The price of the offer was not disclosed.

Potanin, 61, is the head of mining giant Norilsk Nickel (Nornickel) (GMKN.MM), which has benefited from large metals costs in recent months. He is Russia’s next-richest male with a fortune of $17.3 billion, according to Forbes magazine.

The billionaire has moved rapidly to consider edge of options thrown up by hurried asset profits because Russia invaded Ukraine on Feb. 24, triggering sweeping western sanctions and prompting hundreds of international enterprises to withdraw.

On April 11, French lender Societe Generale mentioned it would give up Russia and consider a 3 billion euro ($3.3 billion) revenue strike from selling its Rosbank unit to Interros.

Last 7 days, Interros purchased a 35% stake in TCS Group Holding from the group’s founder, businessman Oleg Tinkov, for an undisclosed sum.

Tinkov explained to the New York Instances that offer was a “fire sale” compelled on him by the Kremlin immediately after he condemned what he termed Russia’s “nuts war” in Ukraine, now nearing the finish of its 10th week.

In a information launch, Interros mentioned the most up-to-date deal was aimed at creating its banking organization, and it would aim on boosting UCS’s providers for smaller and medium-sized buyers.

Reporting by Mark Trevelyan modifying by John Stonestreet

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