Russian Tycoon Buys Stake in Property Firm

---

ICT Group, the investment company owned by Russian tycoon Alexander Nesis, has purchased an approximate 25 percent stake in real estate firm O1 Properties, according to Reuters.  

The deal could be worth about $350 million, although talks for the deal are ongoing and details have not been disclosed. 

According to Forbes, Mr. Nesis has a fortune of $3.3 billion, raking him the 30th richest man in Russia. He owns a minority stake in Russian precious metals miner Polymetal, while ICT Group has assets in the finance and engineering industries.

O1 Properties was formed in 2010 focusing on Russian real estate. The company's portfolio includes three development projects and eleven completed business centers in Russia's capital, with a total rentable area of 486,000 square meters. The portfolio's market values is $4.25 billion, according to the company's website.  

Tenants for O1 Properties' buildings include Volkswagen Group, General Electric, Walt Disney, PWC, McKinsey & Company, Nomos Bank, Deloitte, LG Electronics and Citibank, among others.  

Representatives for O1 and ICT declined to comment on the latest deal.