Peterstar (merged with Synterra)

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PeterStar operates a digital, fiber optic telecommunication network that is interconnected with incumbent St. Petersburg and Moscow public telephony operators and with various mobile telephone, long distance and domestic and international IP-Service operators. Peterstar was established by St. Petersburg telephone Network Joint Stock company, and Petersburg Long Distance Company (PDL). The main owners of Peterstar were PLD holdings of US, Cyprus-based New Capital, and Telekominvest of Russia by 1999. It invested US$26 million into the project by 1997. By end of 1999, the company invested US$105.5 million in its communications infrastructure and finished its 1,000-km integrated digital fiber-optic network. By 2003 The company’s fiber optic network was about 2,000 km and it serviced around 100,000 telephone lines. In 2003 Peterstar’s shareholders were Metromedia International Group Inc., (71%) and Telecominvest (29%). In October 2003 Peterstar acquired the 100% of Metromedia International stake in Baltic Communications, Ltd. The deal was worth almost US$3.8 million, including US$1 million for BCL shares and a ruble loan for BCL equivalent to US$2.8 million. On August 1, 2005 Emergent Telecom Ventures S.A. and First National Holding (FNH) completed a transaction on acquiring a 71% stake in ZAO PeterStar from Metromedia International Group, Inc. (MIG). In 2006, OAO Telecominvest owned a 29% stake in the Company, and 71% of its shares were distributed among the European investment funds First National Holding (FNH) and Emergent Telecom Ventures (ETV). ZAO PeterStar owned a 100% stake in the telecommunications company Baltic Communications Ltd. (BCL), 90% stake in OAO Pskov City Telephone Network, 100% stake in OAO Pskovintercom, a 100% stake in OAO ASPOL-Diamant-Murmansk, as well as a 100% stake in a Kaliningrad communication operator ZAO Telecom Western Shipping Company. First National Holdings (supervising 58% in Telecominvest), the former Peterstar owner acquired a 100% control over the operator in two steps. In March, 2005 Metromedia International Group Inc. (MIG) concluded a treaty with FNH, Emergent Telecom Ventures S.A. and the Cyprus Pisces Investment Ltd., belonging to the first two companies, on JSC Peterstar 71% stake sale for US$ 215m. In November 2006 29% of Peterstar were sold by Telecominvest to FNH for $ 66.7m. Thus, FNH spent $ 281.7m on Peterstar. The same sum has been taken on credit by Synterra group(project 4431), which acquired 100% of Peterstar in July 2007. http://www.peterstar.com/en/ Combined with investment in BCL in 2000 In July 2007 Peterstar was integrated into Senterra group (project 4431).