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RDIF and CDC IC invest in Olmi

25.05.2018
reqveca.ru

The Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) and CDC International Capital (CDC IC) have, as part of the Russian-French investment platform and the joint initiative to support small and medium-sized enterprises, signed an agreement to invest in the Russian business of Olmix, a French biotechnology group specializing in the production of natural seaweed products for nutrition, hygiene and human, animal and plant health.

A corresponding agreement was signed today at May 24, 2018 year at the St. Petersburg International Economic Forum.

The agreement provides for investments of up to 15 m and will aim to expand Olmixs production capacity in St. Petersburg. This will allow the company to increase its presence in Russia and the CIS by expanding the range of products available in local markets.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:

The agreement on investments in the Russian business of Olmix is the result of the earlier agreements between RDIF and CDC IC, covering the expansion of the investment partnership.

We hope that these investments will help the company to strengthen its position in the Russian market, by providing customers with the organic alternatives to antibiotics and chemical additives used in agriculture and food industry.

RDIF and CDC IC continue to search for new investment opportunities that will further expand investment cooperation between Russia and France.

Laurent Vigier, CEO of CDC International Capital, said:

We welcome this agreement which should reinforce Brittany based Olmix and accelerate its development in Russia.

The groups innovative products based on seaweed enable to limit the usage of pesticides and antibiotics notably in the food industry and in agriculture, which starts being a priority nowadays.

This investment promotes further the economic cooperation between France and Russia which is an objective of our Partnership with RDIF.

We continue to look for opportunities to support either French companies looking to expand into Russia or Russian companies willing to expand in the French market.

Herve BALUSSON, CEO of Olmix Group, said:

This partnership with CDC International Capital and RDIF represents a great opportunity for Olmix Group and a significant sign of trust in our no-pesticide and no-antibiotic solutions as well as our Aroma Health products based on the power of algae.

It is a major milestone for Olmix as we look to investing significant resources in Russia and CIS countries to provide our consumers and farmers with innovative, value added and environmentally friendly products supporting sustainable development. Thanks to algae!

Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIFs management company is based in Moscow.

CDC International Capital is the investment arm of French Caisse des Dpts Group dedicated to long term investments with sovereign wealth funds and large international institutional investors.

CDC International Capital has developed a network of Middle Eastern, Russian, Asian and North American institutional partners and operates through various investment structures.

Olmix Group - founded in 1995, Olmix Group is an innovative medium-sized company and a leader in the marine biotechnology space. It has developed complementary business lines in the following areas: Animal Care, Plant Care, Human Care.

It has offices in 27 countries with over 800 employees. It distributes its products in over 100 countries with strong estimated growth over each continent. In 2017, the revenue of the Group totaled 154 mn.