Basic Element 
- RUSSIA: GAZ confirms Opel interest (REG)
12th May 2009
GAZ has confirmed its interest in participating in a consortium involving Magna in a possible bid for GM's Opel operations.
Read the full story >> - CANADA: Lender calls in 20m Magna shares (REG)
6th October 2008
A lender to a wholly-owned subsidiary of Magna International shareholder Russian Machines has sold the 20m Magna shares pledged as security for the finance obtained by Russian Machines for its 20 September, 2007 investment in Magna.
Background
Updated: 28th July 2008
Basic Element is a diversified investment company established in 1997 with assets in Russia and abroad. Basic Element's main assets are concentrated in six sectors - Energy, Resources, Manufacturing, Financial Services, Construction and Aviation.
In 2007, Basic Element's consolidated revenues exceeded US$26bn. The market value of the company's assets is estimated at $45bn.
Basic Element owns a 25% stake in the Austrian company Strabag, 9.99% of the German construction company Hochtief and 20% of the Canadian company Magna International.
Basic Element employs 300,000 people and owns companies in Russia, the CIS countries, Africa, Australia, Asia, Europe and Latin America.
