Volga Group is a privately held investment vehicle that manages assets on behalf of the businessman
Gennady Timchenko
Gennady Nikolayevich Timchenko (russian: Геннадий Николаевич Тимченко, ''also spelled'' Guennadi Timtchenko; born 9 November 1952) is a Russian oligarch and billionaire businessman. He founded and owns the private inve ...
.
History
Volga Group was established as Volga Resources in 2007, and renamed as Volga Group in June 2013. The group consolidates Gennady Timchenko's assets and makes investments in financial services; industrials and construction; trading and logistics; consumer goods; and energy. Gennady Timchenko noted that for the next few years, his group will focus on the development of infrastructure projects in Russia.
Major assets
Among Volga Group's major assets are a 23% stake in
Novatek, Russia's second-largest producer of
natural gas
Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon d ...
; 15.3% of
petrochemicals
Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable so ...
company
Sibur
SIBUR (PJSC SIBUR Holding) is a Russian petrochemicals company founded in 1995 and headquartered in Moscow.
SIBUR is the largest integrated petrochemicals company in Russia and one of the fastest-growing companies in the global petrochemicals ...
, 50% of the gas company Petromir, and 60% through the joint venture with Gunvor in the coal company Kolmar.
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Other investments include 63% of construction company
STG Group, 31.5% of CJSC Stroitransgaz, 60% of the rail company
Transoil LLC Transoil is a railway operator in Russia and was founded in 2003. The company is one of the biggest railway transporters of oil and oil products in Russia. , 100% of beverage maker Aquanika, 79% of timber company Rörvik Timber, 25% of construction companies ARKS Group and SK MOST Group, 60% of aviation company Avia Group, 49.1% and 12.5% of insurance companies Sovag and
Sogaz
SOGAZ is a Russian insurance company. SOGAZ became the first in Russia by written premium ( ₽142.8 billion or US$2.3 billion) and market share (12.1%) in 2016.
The company was formed in 1993 and has direct business in Russia and Serbia. Insuran ...
, and 9% of
Rossiya Bank.
It also owns 50% of
Hartwall Arena
Helsinki Halli (formerly Hartwall Arena) is a large multi-functional indoor arena located in Helsinki, Finland. It was opened in April 1997. The arena is convertible for various events. The total seated capacity during ice hockey games is 13,34 ...
in Helsinki and
Helsinki Jokerit
Helsingin Jokerit (English: Jokers or Jesters) are a professional ice hockey team based in Helsinki, Finland. The team won six league championships as a member of the Finnish SM-liiga (1973, 1992, 1994, 1996, 1997, and 2002). Jokerit plays its h ...
hockey team.
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Key people
Gennady Timchenko is the founder and main shareholder of Volga Group. Chlodwig Reuter is the chairman of the board of Volga Group. and Sven Olsson.
Bloomberg Businessweek: Sven Olsson biography
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References
External links
* {{Official, http://volga-resources.com/
Investment companies of Luxembourg
Luxembourgian companies established in 2007
Companies based in Luxembourg City
Financial services companies established in 2007
Russian entities subject to the U.S. Department of the Treasury sanctions