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2025: Kama Capital JSC plans to acquire Kutuzov Tower business center
It became known about the decision of Kama Capital to buy the Kutuzov Tower business center with an area of 31.9 thousand square meters. m in the Fili-Davydkovo area in western Moscow from the Irish investment company Bergkamp Investments, part of the Irish Bank Resolution Corporation (IBRC). According to Kommersant, negotiations are underway by the end of January 2025.
According to the newspaper, the sale of Bergkamp Investments assets in Russia is connected with the end of the mandate of ownership of property issued to the investment company by its beneficiary - IBRC. After the sale of all assets, IBRC is subject to liquidation according to the decision of the Irish Parliament of February 2013.
Until 2013, the Kutuzov Tower business center was owned by the Irish Quinn Group, whose owner Sean Quinn declared insolvency. To regain control over the assets, IBRC created a joint venture with the Russian company A1, part of Alfa Group.
Mikael Ghazaryan, Head of Capital Markets and Investments at IBC Real Estate, estimates the current value of the Kutuzov Tower business center at ₽6 billion, and Dmitry Antonov, Director of Sales and Acquisitions at Ricci|Offices, at ₽8 billion.
According to the current legislation of Russia by January 2025, the deal must be approved by the government commission for control over foreign investment. In October 2024, Finance Minister Anton Siluanov announced tightening the conditions for foreign business to leave Russia, including increasing the mandatory discount on the sale of assets from 50% to 60% and increasing the budget contribution from 15% to 35% of the market price.
Kama Capital, among the founders of which Rustem Zaripov is listed, has experience in such transactions. In 2024, the company acquired the Metropolis business center in Moscow from the American Hines, a stake in Outlet Belaya Dacha and Outlet Village Pulkovo, as well as retail space previously owned by the French retailer Auchan.[1]
2024: Purchase of Outlet Village Pulkovo and part of Outlet Belaya Dacha from Americans
In December 2024, the Government Commission for Foreign Investment Control approved the Kama Capital holding to acquire the Outlet Village Pulkovo shopping complex in St. Petersburg and a stake in Outlet Belaya Dacha near Moscow from the American investment fund Hines. Read more here.
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