Russia - Glaverbel To Increase Bor Stake

Glaverbel is looking to increase its share in the charter capital of Bor Glass Works in Nizhny Novgorod from 36.4% to 44.449%, the Works told local news agencies. One glass factory spokesman said Russia's Anti-Monopoly Ministry gave Glaverbel the go-ahead to increase its stake in the enterprise to 44.5%. No stock changed hands then, however. The source did not specify which shareholder might be selling stock. In addition to Glaverbel's stock holding in Bor Glass Works, other investors are: EU Bank for Reconstruction and Development 19.25%; the IFC 19.25%; and Alfa Group Holdings (Virgin Islands) 7.05%.