The youngest billionaire in Russia has reduced the share in “SIBUR”


OOO “trust” Leonid Michelson (No. 1 in the list of Forbes) has acquired a 17% stake in petrochemical holding “SIBUR” the company “Yauza 12” youngest Russian billionaire Kirill Shamalov. This is stated in the message on the website of the holding.

The company Michelson increased to 99.9% of its share in the Charter capital of OOO olefininvest, which owns 34,08% “SIBUR”, the report said. Gennady Timchenko, in turn, came from the capital of “Refinancethe” received my stock of “SIBUR” in direct ownership and increasing it by 2.7%.

The total share of Michelson in the holding following the transaction, increased by 14.3 percentage points to 48.5%, the share Timchenko increased by 2.7 percentage points to 17%, the share of Shamalov declined by 17 percentage points to 3.9%.

Another 10.6 per cent belongs to the current and former top management of PJSC “SIBUR holding”, 10% — China’s Sinopec and the same silk road Fund.

“The consolidation of the additional shares due to the plans to attract new partners to increase the industrial potential of the company”, — quotes the words of Michelson in the message of the holding. What about the partners, the representative of NOVATEK (the other major asset Michelson) refused to talk.

The amount of the transaction, representatives of NOVATEK and SIBUR declined to name. The representative Timchenko did not answer the question . The market price, said a source close to one of the companies.

“SIBUR” is not a public company, but it is possible to focus on assessment of capital stock at $13 billion, which was made before the sale of shares to China’s Sinopec at the end of 2015, says the analyst of Gazprombank Evgenia dyshlyuk. Based on this assessment, 17% of SIBUR cost $2.2 billion.

Leonid Mikhelson purchased 100% of SIBUR from Gazprombank in 2011, and then drew two partners (Timchenko and Shamalov). At least until the end of 2014, he remained the controlling shareholder of the holding (as of September 2014, he owned 50.2 per cent). But then Mikhelson sold a large part of the package to Chinese investors. After the deal with Sinopec in December 2015, the proportion of the Michelson decreased by approximately 43.2%. At the end of 2016, 10% of the shares of SIBUR bought a silk road Fund. Michelson then sold for 9%, its share dropped to 34%.

SIBUR — growing company, they have a lot of new projects and, possibly, Michelson really consolidates promotions to attract new strategic investors to the company’s development, says the analyst of Sberbank CIB Valery Nesterov.

In 2016, Kirill Shamalov first entered the Forbes ranking, becoming the youngest Russian billionaire (at the time he was 34). He took 64 th place with a fortune of $1.2 billion this year the businessman took the 74-th line, the magazine estimated his capital at $1.3 billion.

Kirill Shamalov — the son of an old friend of Vladimir Putin, Nikolay Shamalov. In the mid 1990-ies Shamalov Sr. was one of the founders of the dacha cooperative “Ozero” (among the founders was Putin). Now Nikolai Shamalov is a co-owner of Bank “Russia”.

Prior to joining SIBUR Kirill Shamalov worked in the “Rosoboronexport”, “Gazprom” and Gazprombank. In 26 years Shamalov has served as Vice-President of “SIBUR” in the administrative support business. By 2014 he became the owner of more than 4% of the company’s shares, and in September 2014, OOO “Yauza 12”, single which was the owner of Shamalov acquired 17% stake in SIBUR from Gennady Timchenko (share Shamalov, thus, increased to 21.3%). In an interview to the newspaper “Kommersant” Shamalov argued that the financing deal he got the credit in Gazprombank secured of his assets (not specifying what). Shamalov has said that he had paid for the share in “SIBUR”, based on the market valuation of the company at the time (it was over $10 billion).

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