Tue, 28 October
10.1 C
Yerevan
USD: 382.70 RUB: 4.81 EUR: 445.50 GEL: 140.80 GBP: 510.64

Avet Mirakyan’s Insight investment group acquires leasing subsidiary of American Deere & Company

YEREVAN, March 9. /ARKA/. Avet Mirakyan’s Russia-based Insight investment group has acquired the Russian leasing company John Deere Financial, which belonged earlier to the U.S.-based Deere & Company.

The deal was formally registered on Tuesday, March 7. On February 28, before the acquisition of John Deere Financial, Insight investment group had placed a bond issue for 11 billion rubles, according to Frank Media.

Armenia-born Mirakyan, former CEO of SFPI, and his partners created Insight Group in 2022. Mirakyan owns 80% of the company, and the rest is distributed among the group’s top management. 

The first issue of bonds worth 53 billion rubles was placed by IG last September. A little later the company had acquired the Siemens Finance, a Russian leasing company owned by German industrial manufacturing giant Siemens AG. Siemens Finance was subsequently renamed to Deltaleasing.

The group is said to be ready to consider the acquisition of leasing assets of all foreigners, who departed Russia after Moscow launched the so-called ‘special military operation’ in Ukraine.

John Deere Financial’s revenue in 2021 was 2.7 billion rubles, with a net profit of 0.9 billion rubles. Apart from agro-industrial companies, the counter-parties of the Russian “subsidiary” Deere include companies of the construction, coal mining and timber industries. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

LATEST NEWS

spot_imgspot_imgspot_img