“Forbes to be acquired by Russian investment fund”

“Forbes to be acquired by Russian investment fund”

“When the economy is shrinking”, Yakov Sadchikov from Russian blog Quintura writes, “it’s a good time for private equity investors to buy assets at a low valuation.” Companies from his country are doing just so. News stories about Russian funds going on a buying spree frequently find their way to this blog. According to some recent reports, ONEXIM Group is about to acquire publishing giant Forbes.

Mikhail Prokhorov - Wikipedia, the free encyclopedia
Mikhail Prokhorov

The Forbes portfolio include the famous Forbes magazine and spin-offs like ForbesAutos. These publications will soon probably be in Russian hands. The ONEXIM Group, led by oligarch and playboy Mikhail Prokhorov, is one of Russia’s largest private investment funds – worth $25 billion – with a focus on mining industry, real estate, and energy.

Surviving

If the complicated acquisition will be completed, many people might dislike the fact a Russian company owns a traditional American publishing house. Yet in these harsh times, acquisitions by foreign parties might be their only way to survive.

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