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Latest Prokhorov Stories

2009-09-23 13:20:00

CLEVELAND, BROOKLYN, N.Y. and MOSCOW, Sept. 23 /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc. (NYSE: FCEA and FCEB) today announced that its New York-based subsidiary, Forest City Ratner Companies, Inc. ("FCRC") and Nets Sports and Entertainment ("NSE"), have signed a letter of intent with an affiliate of Onexim Group, an international private investment fund, to create a strategic partnership for the development of the Atlantic Yards project, a 22-acre residential and commercial...

2009-05-30 13:30:48

A Russian billionaire is denying a report he intends to build a luxury resort hotel on Turkey's Aegean coast, his spokesman says. A spokesman for metals magnate Mikhail Prokhorov said Saturday there's no truth to a report published in The Milliyet daily newspaper that Prokhorov is readying plans for a seven star Turkey hotel, RIA Novosti reported. It is untrue, the spokesman said. We have no such plans and they have not even been discussed, adding the billionaire and his company, Onexim, do...

2009-05-22 23:04:39

A gold mining community in Siberia has received a financial boost from the richest man in Russia, who has decided to register as a resident. Mikhail Prokorov's action means that his tax payments will go to the local budget of Krasnoyarsk Territory, where the village of Yeruda is located, RIA Novosti reported. No one expects Prokorov, who was previously registered in Moscow, to move to Yeruda, the Russian news agency said. Last year, he spent 500 million euros (almost $700 million) on a...

2008-08-06 06:00:34

By Andrew E. Kramer The Russian metals tycoon Mikhail Prokhorov announced Tuesday that he would sell a minority stake in the Arctic mining company Norilsk Nickel for $10 billion to his former business partner Vladimir Potanin, possibly ending a drawn-out ownership struggle between several of the richest men in Russia. The two oligarchs agreed last year to divide their holding in Norilsk, an iconic and extraordinarily valuable Russian factory founded by Stalin, whose value soared along...

2008-07-24 21:00:29

MOSCOW. July 24 (Interfax) - Mikhail Prokhorov's Onexim Group has decided not to take part in a tender for the giant Udokan copper field in Russia's Chita region, Onexim general director Dmitry Razumov told journalists on Thursday. Five companies submitted bids to take part in the tender for the field. The bids were submitted by MMC Norilsk Nickel (RTS: GMKN), Oleg Deripaska's SoyuzMetalResource, Mikhailovsky GOK (part of Alisher Usmanov's Metalloinvest), Onexim Group and the consortium of...

2008-07-11 21:00:17

MOSCOW. July 11 (Interfax) - Mikhailovsky GOK (MGOK), a major iron ore producer from Russia's Kursk region and a member of billionaire Alisher Usmanov's Metalloinvest holding, has applied to bid at a tender for the rights to the big Udokan copper field in Russia's Chita region, a source at a profile agency told Interfax. With the deadline just hours away, five companies have now filed bid applications: MGOK; Strikeforce Mining and Resources Ltd. (SMR), which is a subsidiary of the Basic...

2008-07-06 09:00:17

By Mark Leftly Prokhorov backs merger of nickel and aluminium miners to form a $100bn rival to a united BHP Billiton and Rio Tinto Russian billionaire Mikhail Prokhorov has called for the creation of a $100bn Russian mining champion, ahead of an intense boardroom battle with former friend and business partner Vladimir Potanin tomorrow. Mr Prokhorov, Russia's sixth- richest man with a $19.5bn (9.8bn) fortune, told The Independent on Sunday in a rare interview that nickel miner Norilsk...


Word of the Day
barratry
  • The offense of persistently instigating lawsuits, typically groundless ones.
  • An unlawful breach of duty on the part of a ship's master or crew resulting in injury to the ship's owner.
  • Sale or purchase of positions in church or state.
This word ultimately comes from the Old French word 'barater,' to cheat.
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