Baran and Nesis both own stakes in mining company Oriel Resources.
Sources inform ''Globes'' that Russian tycoon Alexander Nesis will probably invest in Baran Group (TASE: BRAN; Pink Sheets:BRANF.PK) at NIS 95 per share. Two weeks ago, Baran announced that it was negotiating with a Russian investor to acquire 12.5% of the company for NIS 100 million. The share has risen almost 20% since that announcement. It rose 4.3% today to close at NIS 95.68.
Nesis, 44, studied physics and chemistry. His business career began with the production of a synthetic padding for coats. He now owns a number of factories and ventures in the metals and derived products industries. “Forbes” estimated his fortune at $410 million in 2004.
Baran hopes that Nesis will help the company expand its business in Russia, open doors to industries, strengthen local ties, and facilitate dealing with the bureaucracy. Baran has a longstanding relationship with Nesis, after one of his companies, Croweley International Ltd., invested $100 million in Oriel Resources plc (AIM:ORI; TSX:ORL), a nickel and chromium mining company, in which Baran owns a 5.6% stake.
Published by Globes [online], Israel business news - www.globes.co.il - on October 11, 2007
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