| Volga Group | |
| Foundation: | 2007 |
| Key People: | Gennady Timchenko (shareholder), Chlodwig Reuter (Chairman) |
| Location: | Luxembourg, Luxembourg |
| Type: | Private |
| Industry: | Energy |
| Num Employees: | around 90,000 |
Volga Group is a privately held investment vehicle that manages assets on behalf of the businessman Gennady Timchenko.[1]
Volga Group was established as Volga Resources in 2007, and renamed as Volga Group in June 2013.[2] The group consolidates Gennady Timchenko's assets and makes investments in financial services; industrials and construction; trading and logistics; consumer goods; and energy.[3] [4] Gennady Timchenko noted that for the next few years, his group will focus on the development of infrastructure projects in Russia.[5]
Among Volga Group's major assets are a 23% stake in Novatek,[6] Russia's second-largest producer of natural gas; 15.3% of petrochemicals company Sibur,[7] 50% of the gas company Petromir, and 60% through the joint venture with Gunvor in the coal company Kolmar.[8] [9]
Other investments include 63% of construction company STG Group, 31.5% of CJSC Stroitransgaz, 60% of the rail company Transoil, 100% of beverage maker Aquanika, 79% of timber company Rörvik Timber, 25% of construction companies ARKS Group and SK MOST Group, 60% of aviation company Avia Group, 49.1% and 12.5% of insurance companies Sovag[10] and Sogaz, and 9% of Rossiya Bank.[11] [12] It also owns 50% of Hartwall Arena in Helsinki and Helsinki Jokerit hockey team.[13]
Gennady Timchenko is the founder and main shareholder of Volga Group.[14] Chlodwig Reuter is the chairman of the board of Volga Group.[15] and Sven Olsson.[16]