Russian tycoon Tariko’s Roust may float shares in 2 years

MOSCOW, Nov 21 (PRIME) -- Russian businessman Rustam Tariko’s alcohol producer Roust group may carry out an initial public offering (IPO) in the next two years, the company said in a statement on Monday.

Earlier in November, the company agreed with bond holders to increase its capitalization by more than U.S. $500 million. The deal will allow Roust to cut its existing debt and attract an additional shareholder capital of $55 million. Under the deal, the Russian Standard Vodka company will become part of the Roust Group.

Integration of the two companies and higher capitalization will create a platform for the IPO of the merged company together with a fast growth of sales and profits at all markets, Roust said.

Roust is the world’s second largest vodka producer and the largest producer of alcoholic beverages in Central and Eastern parts of Europe. The company owns vodka brands Russian Standard, Parliament, Zubrowka, Zhuravli and others.

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