Oracle Capital buying blocking stake in Third Rome
MOSCOW. Oct 11 (Interfax) - Oracle Capital Group is buying a blocking stake in the holding company of investment group Third Rome, which was founded in 2009 by Andrei Movchan and other former employees of the Renaissance group.
The price of the deal has not been disclosed. Third Rome's strategy and brand will remain unchanged, the company said in a statement.
LLC Third Rome is wholly owned by Third Rome Holding, which is registered in the Cayman Islands, the SPARK-Interfax database shows.
Movchan will be replaced as CEO of Third Rome by another co-founder, Danilo Latsmanovich. Movchan will chair the group's board of directors together with Oracle Capital chairman Martin Graham.
Oracle Capital, which specializes in wealth management, was founded in 2002 and is headquartered in Luxembourg.