Timchenko became the owner of “Volga group” directly

Moscow. December 17. Gennady Timchenko changed the ownership scheme of its holding company – LLC “Volga group”.

As follows from the data base “SPARK-Interfax”, in December the businessman became the owner of 99.99% of “Volga group” (the other 0,01% – OOO “Volga group holding”). Still these shares owned by Cyprus-Ltd and Volga Resources Luxembourg Sarl VRN.

“This is an important step in implementing the strategy of de-offshorisation, but the process does not end, continues active work on restructuring of assets in the portfolio”, – said the representative Timchenko Anton Corewin.

“In respect of a number of assets and projects, the process of deoffshorization already completed, for other assets (energy, construction business, infrastructure projects), the process continues, it is in an advanced stage of implementation. Expect to complete in the next few months,” he said.

Now on the balance of LLC “Volga group” consolidated share Timchenko in companies Aquanika (manufacturer of drinking water), “Transoil CIS” (owns interest in the Bank “Russia”), “Alma holding” (a complex for growing apples and wine production in the Krasnodar region), “Kolmar group” (coal mining) and several others. Companies from offshore jurisdictions remain in the ownership structure of the packets belonging to Timchenko in SIBUR, NOVATEK, “Stroytransgaz”, “Transoil”. In the future they too will be decorated for the Russian company, said Corewin.