S-Group History

S-Group was founded in 2007 with the opening of representative office in Moscow and the establishment of two private equity funds: S-Group Direct Investments and S-Group Travel Holdings.

SGDI Fund was created as a diversified investment fund with investment horizon of 5 years, while the exclusive direction of S-Group Travel Holdings fund was investment in Travel and Leisure sector.

In November 2007, the company announced that through SGTH fund it has acquired initial stake in the international tourism holding company — TUI AG.

In April 2008, S-Group reached an agreement with TUI Travel Plc to create a Joint Venture for development of tourism business in Russia and CIS.

In December 2008, S-Group invested in the new closed-end venture investment fund “S-Group Ventures”, created after the second competitive selection process of the Russian Venture Company (RVC), forming private- public partnership. “S-Group Ventures” fund is managed by investment management company “Sever Asset Management”. S-Group staff is involved in management of involved in the management of “S-Group Ventures”.

In April 2009, S-Group together with its partner — TUI Travel Plc announced completion of the transaction to create Joint Venture and acquisition of tourism assets in Russia and Ukraine.

Also during 2009, S-Group announced completion of acquisitions of VKO and Voyage Kiev, the leading players in the tourist markets in Russia and Ukraine.

In March of 2010 S-Group together with its partner — TUI Travel announced completion of acquisition of 75% stake in Mostravel Group, as well as the Launch of the TUI brand in Russia and Ukraine.