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Timchenko Buys Russian Infrastructure Builder, Kommersant Says

Billionaire Gennady Timchenko acquired a stake in infrastructure builder ARKS to diversify from the oil and gas business, Kommersant reported, citing Sergei Makarov, CEO of Timchenko’s pipeline builder Stroytransgaz.

Tichenko acquired 21 percent of the builder for $200 million and received an option to gain control, the Moscow-based newspaper said. ARKS builds highways in the Moscow region.