Russian Summa Capital buys 61% of Czech engineering company OKZ Holding.

By bne IntelliNews March 29, 2011
Russian investment group Summa Capital has acquired a 61% stake in Czech engineering company OKZ Holding, RBC daily reported citing Sergey Velichko CEO of Summa Capital's subsidiary Stroynovatsiya. The value of the deal was not disclosed. The acquisition is in line with Summa Capitals strategy to expand operations on the European market. Stroynovatsiya plans to participate together with OKZ Holding in tenders for the construction of oil and gas reservoirs in Spain, Belgium, the Netherlands and other EU countries, Velichko said. Stroynovatsiya is currently negotiating the construction of hydrocarbons storage facilities with oil companies Shell, Total, Vopak and Oiltanking. OKZ Holding is among the leading European contractors for the construction of storage tanks for petroleum and petroleum products with a capacity of between 5,000 and 100,000 cubic metres. The company has already built reservoirs with a combined volume of nearly 4mn cubic metres. The order portfolio of OKZ Holding for the construction of storage tanks and metal structures is evaluated at EUR 120mn.

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