Unexpected change of owner of Morton, large developer group

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Unexpected change of owner of Morton, large developer group
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On Tuesday, it became known that an owner of Morton, a large developer group Alexander Ruchyov, sold his share in the company to a co-owner of PIK construction group of companies Sergey Gordeev, Kommersant reports.

Alexander Ruchyov was a founder and a co-owner of Morton, a minority share belonged to his undisclosed partners and it is also sold to Sergey Gordeev.

Thus, Mr Gordeev has consolidated control almost over all Morton assets. This includes commercial real estate of 200,000 square meters, perspective developer’s projects for 5,3 million square meters of housing implemented in Moscow and the Moscow region. There is also a 1,000-hectare land bank and a plant producing “DSK Grad” panels among the assets.

Now, Mr Ruchyov intends to engage in the development of “Fiztekh” technopark, implementation of the projects for production of high-tech materials for exports, as well as the utilities and housing projects abroad, in particular, in Vietnam, Mongolia and Egypt.