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Magnum Investment and Construction Company LLC (Novosibirsk) is buying up assets of OJSC Linjovo House-building Company (LHB CO) currently undergoing bankruptcy proceedings, the Kommersant reported.

Soon after the acquisition of the factory grounds (17.3 ha) for RUB 11 million, Magnum acquired the production premises about 19 thousand square meters in area on March 12. This new asset cost Magnum RUB 69.6 million. According to market players, Magnum founded and managed by LHB CO's ex-CEO Nikolay Kosulin is "consolidating assets of the house building factory so as to revamp it later."

LHB CO's insolvency administrator will hold another auction to sell the main office building of the enterprise (more than 3 thousand square meters) on March 19, the starting price being about RUB 25 million.

"AK&M", 14.03.2013