Published On: Sun, Feb 15th, 2015

Billionaires Mikhail Fridman, German Khan, Buying London Luxury Student Dorms

Russian investors have been facing a hostile response to its attempts to invest in the U.K., because of cooling relations between Moscow and London.

Mikhail Fridman,   German Khan

Tycoon Mikhail Fridman is leading An investment group of Russian billionaires looking to purchase luxurious student facilities in London, for an estimated $824 million, propertyweek.com reported.

Fridman wants to buy the 2, 150-bed Pure Student Living, with five luxury housing blocks, from Carlyle Group and Generation Estates.

Fridman’s Luxembourg-based LetterOne was set up in 2013, with the aim of investing the profits Fridman and his partner German Khan have collected from selling their share in the oil firm TNK-BP to the state-owned Rosneft.

So far, however, LetterOne has been facing a hostile response to its attempts to invest in the U.K., because of cooling relations between Moscow and London.

Fridman is Russia’s second-richest person, with about $17.6 billion, according to Forbes. Khan has an estimated at $10.2 billion.

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