FBK Appraisers Started to Implement the Agreement with the Moscow Branch of Novard

FBK made an agreement with the Moscow Branch of Novard (Novard Estate Management Limited). According to the agreement the appraisers are going to carry out a valuation for the purposes of IFRS (International Financial Reporting Standards).

Novard Group (GK Ekonika until May 2011) is a Russian holding comprising several independent businesses in the shoe industry, investment and development, manufacturing industrial and building equipment as well as technical consulting.