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RDIF and CDC IC expand investment cooperation

The Russian Direct Investment Fund (RDIF) and CDC International Capital (CDC IC) are expanding the scope of their cooperation within the framework of the Russia-France investment platform.

The parties have agreed to jointly search and invest into small and medium-sized businesses in both Russia and France (standard investment amount in each project below 20 million euros). These investments will strengthen trade and economic cooperation between the two countries. A corresponding agreement was signed today in the presence of the French Economy and Finance Minister Bruno Le Maire and the Russian Minister of Economic Development Maxim Oreshkin, during the 23rd session of the Russian-French Council for Economic, Financial, Industrial and Commercial Cooperation (CEFIC).
 
Further to this agreement, the parties are considering the first transaction of the expanded partnership, an investment in the French biotechnology group Olmix. Olmix is a specialist in the production of natural algae products for nutrition, hygiene, and human, animal, and plant health. Investment of up to 15 million Euros, will be used to expand the production facilities of Olmix Group in St. Petersburg. This will allow Olmix Group to expand its range of available products and its presence in Russian and CIS markets.
 
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), says: “We welcome the expanded scope of cooperation with our French partner CDC IC, aimed at identifying attractive investment opportunities in small and medium-sized companies. Biotechnology company Olmix, which plans to expand its presence in Russia, is the first potential opportunity of that kind. We believe that Russian- French cooperation has great potential and are already looking into additional opportunities that will facilitate Russian and French companies entering the markets of both countries.”
 
Laurent Vigier, CEO of CDC International Capital (CDC IC), says: “We look forward to further develop our historical relationship with RDIF. The updated framework underlines once more our joint commitment to facilitate the development of French companies in Russia. Extension of our collaboration equally signals a mutual willingness to support Russian companies expanding in the French market. We welcome cooperation with Olmix Group, an innovative French company in the agribusiness sector. The Group plans expansion of its activity in a very promising region – Russia and the CIS – while also strengthening its territorial positioning in Brittany, where the group was founded.”
 
Hervé Balusson, President of Olmix Group, says: “Potential partnership with CDC IC and RDIF represents a major opportunity for Olmix Group and it is an important sign of interest in our no-pesticide and – antibiotic solutions as well as our Aroma Health products.”
 

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