OREANDA-NEWS. January 24, 2013. A1 Investment Company announces that it is selling its shareholding in Gras Group of Companies.

Gras Group is a major developer and producer of construction materials. The Group was established in 2005 and by now has carried out two significant development projects in Sochi – residential complexes “Alexandriyskiy Mayak” and “Novaya Alexandria”, and has also built and put into commission 2 autoclaved aerated concrete plants (with the annual capacity of 450 thousand m3 each).

Currently, plans of Gras Group of Companies include such development projects as construction of business-class residential complexes in Moscow and Sochi with the total area of 430 thousand sq. meters.

Originally, A1 considered the acquisition of a shareholding in a large development company Gras as a financial investment on the growing and having a huge potential real estate market. The existing market situation allowed the company to sell this asset on maximum favourable terms in accordance with the planned revenue targets.

A1 is the key investment division of the Alpha Group Consortium. A1 is Russia's leading expert in the resolution of complicated economic and corporate situations. At the present time A1 is managing the assets portfolio in different market segments in Russia and the CIS countries.