Potok (Rus. Flow) is a Russian investment and development company with the head-office in

Moscow Moscow is the Capital city, capital and List of cities and towns in Russia by population, largest city of Russia, standing on the Moskva (river), Moskva River in Central Russia. It has a population estimated at over 13 million residents with ...

. Its activities include

mixed-use development Mixed use is a type of urban development, urban design, urban planning and/or a zoning classification that blends multiple uses, such as residential, commercial, cultural, institutional, or entertainment, into one space, where those functions ...

, construction, managing and selling of real estate in Moscow and abroad. The projects, which were previously under the control of the Mirax Group corporation, now are being developed by this brand.

Owners and management

''Potok'' was founded on December 1, 2011, by Sergei Polonsky, and this company has inherited all the structures and liabilities of Nazvanie.net (former Mirax Group). As reported earlier, the Mirax Group brand was officially closed on 3 March 2011, at a special press-conference for media representatives, who received the official statement of the Board of Directors of the investment and development company MIRAX GROUP. It stated that all the obligations of the group on completion of the objects would certainly be fulfilled. All public debt сommitments of the group (denominated bonds, CLNs and LPNs), said the statement, would also be honored in full accordance with the terms of restructuring. On December 1, 2011, Sergei Polonsky officially changed the name of the company to Potok, with all the obligations and structures of Nazvanie.net to be retained by the new company. The controlling interest of ''Potok'' belongs to its founder, chairman of the board of directors, Sergei Polonsky. In July 2012, the restructuring of the public debt of the Potok company (ex-MIRAX GROUP) was successfully completed. It took the company one and a half years to prepare this deal together with the

debt restructuring Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continu ...

agent, OAO Alfa-Bank and a working group of creditors. The restructuring included the exchange of the five existing at the time security issues – three ruble bond issues and two English law note issues – for the new issue of notes (LPN2019) with the face value of RUR14.5 billion. As collateral for this transaction, 8 projects and a personal guarantee of the Potok shareholder Sergei Polonsky were used. For investors who cannot own the notes for certain reasons, new ruble bonds worth RUR1 billion were issued.

Activity

Potok operates in the real estate markets of

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

Ukraine Ukraine is a country in Eastern Europe. It is the List of European countries by area, second-largest country in Europe after Russia, which Russia–Ukraine border, borders it to the east and northeast. Ukraine also borders Belarus to the nor ...

France France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlan ...

Cambodia Cambodia, officially the Kingdom of Cambodia, is a country in Southeast Asia on the Mainland Southeast Asia, Indochinese Peninsula. It is bordered by Thailand to the northwest, Laos to the north, and Vietnam to the east, and has a coastline ...

Malaysia Malaysia is a country in Southeast Asia. Featuring the Tanjung Piai, southernmost point of continental Eurasia, it is a federation, federal constitutional monarchy consisting of States and federal territories of Malaysia, 13 states and thre ...

Montenegro , image_flag = Flag of Montenegro.svg , image_coat = Coat of arms of Montenegro.svg , coa_size = 80 , national_motto = , national_anthem = () , image_map = Europe-Mont ...

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

Switzerland Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland ...

and Beetham Tower in

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

. In May 2011, the company's portfolio included several projects with a total area of about ten million sq.m. Potok is the client and developer of the second-tallest skyscraper in

Europe Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east ...

, business complex

Federation Tower The Federation Tower () is a complex of two skyscrapers built on the 13th lot of the Moscow International Business Center in Moscow, Russia. The two skyscrapers are named Tower East or Vostok (Russian: Восток; literally means "East") and T ...

, in the

Moscow International Business Center The Moscow International Business Center (MIBC), also known as Moscow-City, is an under-construction commercial development in Moscow, the capital of Russia. The project occupies an area of 60 hectares, and is located just east of the Third Rin ...

, or Moscow-City. In May 2011,

Sberbank The Public JSC Sberbank (, initially a contraction of ) is a Russian majority state-owned banking and financial services company headquartered in Moscow. As the Russian successor entity of the State Labor Savings Banks System of the USSR, it was ...

allowed a creditSberbank to credit Mirax Group to finish the Federation Tower
/ref> of $373.6 mln for the completion of the tower construction. As a result of certain restructuring, a new scheme of project management was implemented, in which the management triad, composed of the CEOs and top managers of the company, shall carry out all the construction works on each project of the company operational program and, therefore, bear full responsibility for the result. The structures of Potok also comprise several companies previously engaged in separate and distinct types of business. Among them are Stolitsa-Service (engaged in the management and operation of the commissioned buildings), ex-Mirax-Pharma (research, production, and retail of pharmaceutical products), ex-Mirax-Design (design and fulfillment of interiors), and others.

References

External links

* {{Authority control Construction and civil engineering companies of Russia Companies based in Moscow Construction and civil engineering companies established in 2011 Russian companies established in 2011