Oleg Cherepanov, a Yekaterinburg-based entrepreneur, has recently announced he’s sold NOVA-Group and launched a new business project.

NOVA-Group started working on several construction projects in Yekaterinburg in 2006. During his first visit to Sverdlovsk Region, First Deputy Head of Russian Federation Government and the country’s future President Dmitriy Medvedev visited some of NOVA-Group’s premises and discussed the prospects and challenges of the building industry with Oleg Cherepanov.

NOVA Group eventually reached new quality heights in the course of its development, so Saint Petersburg-based LSR Group offered to buy the company.

Oleg Cherepanov reports they are now through with the negotiations, so he is about to set up a new building company: Forum Group. The new developer will work on Tikhvin (Yekaterinburg’s first premium class apartment building), Forum Mall (the Urals’ first premium class shopping mall), and other ambitious projects.