FX.co ★ Seven Russian billionaires who acquired the assets of foreign companies
Seven Russian billionaires who acquired the assets of foreign companies
French financial group Societe Generale
The new owner of Societe Generale's assets is Russian businessman Vladimir Potanin, the founder and president of Interros. In April 2022, Vladimir Potanin bought a stake in Rosbank and its insurance business from the French bank Societe Generale. The transaction amount was not disclosed (according to rough estimates, it ranged from 40 to 60 billion rubles). It is worth recalling that in 2006 the French financial group acquired 20% of Rosbank's assets, and in 2008 became its controlling shareholder. At the time, the management of Societe Generale paid much more for them than they received in the current deal.
Canadian gold mining company Kinross Gold
The buyer of the Russian assets of the Canadian gold miner is businessman Vladislav Sviblov, owner of Highland Gold. The transaction took place in April of this year. It included the acquisition of the assets of the Chulbatkan development project, the sale of the Kupol and Dvoynoye mines and several exploration areas. According to Anton Glazunov, Deputy CEO for Strategy and Development at Highland Gold Mining Ltd, the international valuation of Kinross Gold's assets amounted to $1.5-$2 billion. However, the entrepreneur bought them much cheaper - in the range of $680 million.
Austrian Mondi Group
Mondi Group sold its Russian Syktyvkar plant to Augment Investments Limited owned by Russian billionaire Viktor Kharitonin, who is also a co-owner of Pharmstandard. The sale agreement was signed in early August. The preliminary amount of the transaction for the sale of assets by the management of «Mondi Syktyvkar TIC» to Viktor Kharitonin amounted to 95 billion rubles (€1.5 billion). A final decision on Mondi's assets will be made following the approval of the Government Commission for Foreign Investment Control and antitrust approvals. For reference: Syktyvkar TIC is engaged in the production of pulp, uncoated thin paper and packaging products.
British group Imperial Brands Plc.
The new owners of the assets of the British company Imperial Brands Plc are several Russian businessmen, including Igor Kesaev and Sergey Katsiev, who hold senior positions in the Megapolis corporation. In addition to representatives of Megapolis, the owners of British assets are Alexander Kobzev (member of the Board of Directors of Dixy) and Konstantin Ivanov, who served as financial director at Dixy Group. Later, several other large Russian entrepreneurs became the new co-owners of Imperial Brands Plc.
British oil and gas group Shell
The buyer of the assets of the well-known oil concern is the Russian billionaire Vagit Alekperov, one of Lukoil's founders. Shell's management sold its Russian gas station network and lubricants plant in the Tver region to the company. It is worth recalling that in Russia there were 411 filling stations under the Shell brand, some of which belonged to the corporation, and the rest operated under the Shell brand on a franchise basis. After the change of ownership, the gas station network will continue its activities under the Finnish brand Teboil. The exact amount of the transaction is unknown (according to preliminary estimates, the purchase of Shell's assets cost LUKOIL $83 million).
American coffee chain Starbucks
The acquirers of the popular coffee chain's assets are Russian restaurateur Anton Pinsky, rapper Timati and Sindika, owned by Arsen Kanokov. The amount of the transaction was not disclosed, however, Mikhail Burmistrov, CEO of Infoline-analytics, estimated Starbucks assets at 700 million rubles. According to experts, the management of the coffee shop chain sold them at a significant discount. Sindika also acquired the assets of the premium grocery chain Globus Gourmet. Acquisitions include three grocery stores in Moscow shopping centers and one Globus Gourmet Express at Sheremetyevo Airport.
PPF Group
The new owners of the assets of the Czech company PPF Group are large Russian businessmen Alexander Abramov and Alexander Frolov, who hold senior positions in Invest AG and are shareholders of Evraz. The Russian company bought 130 hectares of land in New Moscow from the Czech PPF Group. At the same time, the management of the Czech company wanted to receive 3.6 billion rubles, but its assets were estimated at only 2–2.5 billion rubles. This is not the first acquisition by Invest AG in the real estate market. At the beginning of 2022, the corporation bought out 40% in the project for the construction of a large residential complex in the Moscow region.
