In August, Russian President Vladimir Putin flew to the Black Sea resort of Sochi, where his country is spending a record $48 billion on the 2014 Winter Olympics. A regular visitor, with an official residence in town, Putin watched mixed-martial-arts contests at Oblaka nightclub with Russian Prime Minister Dmitry Medvedev and Kazakh President Nursultan Nazarbayev.
Gibson, Dunn & Crutcher LLP counseled Tri Pointe Homes Inc., a developer backed by investor Barry Sternlicht, in its deal to buy Weyerhaeuser Co.’s residential real estate unit in a transaction valued at about $2.7 billion.
OAO AvtoVAZ appointed Bo Andersson, a former top purchasing manager at General Motors Co., as chief executive officer, the first non-Russian to lead the maker of Lada cars as it deepens ties with the Renault-Nissan alliance.
Volkswagen AG plans to issue its debut bond in rubles, almost a year after Caterpillar Inc. became the first foreign blue chip to sell debt in the currency, as Europe’s largest automaker seeks to expand in Russia.
United Co. Rusal, owner of a 28 percent stake in OAO GMK Norilsk Nickel, expects the nickel producer to maintain its approach to dividend payments, said billionaire Chief Executive Officer Oleg Deripaska.