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Alfa Eyes Energy Assets

By The Moscow Times

Mikhail Fridman's Alfa Group, which recently made over $13 billion from selling its stake in TNK-BP, may reinvest in the oil and gas sector if it finds suitable assets, a senior executive at one of Alfa's subsidiaries said.

Petr Aven, chairman of the board at Alfa Bank, said the group planned to invest in the financial sector, telecoms and retail, "our traditional businesses".

"If we find a possibility to return (to the oil and gas sector), we will return," he said.

Aven was speaking to reporters after Alfa Group announced plans to spend up to $100 million on a charity program aimed at improving child health in Russia.

Aven, also a member of the supervisory board of Alfa Group, did not specify whether it would buy energy assets in Russia or abroad.

(Reuters)

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