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More Russian IPOs planned as investors return to Moscow

Detsky MirForeign investors are being lured back into Russia by businesses seeking to tap the public equity and bond markets, the Financial Times reports today, after almost three years when they have shied away over concerns of the impact of sanctions as well as worries over the economy.
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Norisk Nickel CEO Potanin tops Bloomberg list of Russian billionaires

Vladimir PotaninUS publisher Bloomberg  has named Nickel CEO Vladimir Potanin Russia’s richest man with assets valued at $14.7bn in its rankings of the world’s top 200 billionaires. The world’s largest nickel producer, Noris Nickel posted revenues of $8.5bn last year, 30.4% of which Potanin controls through Inteross. He also controls real estate assets worth $500m, the Sochi ski resort of Rosa Khutor and 50 % of Russian internet company Afisha-Rumbler-SUP.
He leads a list of 15 Russians in the top 200 that includes:
Leonid Mikhelson ($14.1bn) who owns 25% of Novatek, Russia’s second largest natural gas producer, 42.% of petrochemical producer Sibur and part of Promsvyazbank.
Viktor VekselbergViktor Vekselberg ($13.1bn), chairman of Renova Group, a Bahamas-based investment company with stakes in publicly traded equipment makers Sulzer and Oerlikon, and Rusal, Russia’s biggest aluminium producer. Vekselberg also controls Russia’s largest holding of regional airports and sold 12.5% of a Russian oil venture for $7bn in 2013.
Alexei Mordashov ($12.2bn), the largest shareholder in Severstal, Russia’s fourth-biggest steelmaker. Mordashov also owns stakes in gold producer Nordgold, power generation equipment maker Power Machines, and TUI, Europe’s largest tour operator. His other assets include National Media Group, Bank Rossia and wireless carrier Tele2 Russia.

Mikhail Fridman

Mikhail Fridman

Mikhail Fridman ($12.1bn) who controls Alfa Group, an investment company that owns stakes in Russian mobile-phone operator VimpelCom and Alfa Bank. Fridman also owns just under 22% in X5, Russia’s second-biggest food retailer and, through Luxembourg-based LetterOne, 38% of German oil and gas producer DEA.

Alisher Usmanov who owns 48% of USM Holdings, a British Virgin Islands-based entity that controls Metalloinvest, Russia’s largest iron ore producer, and mobile phone company MegaFon. Usmanov also has shares in Alibaba, Airbnb, JD.Com and Spotify, and co-owns Russian internet company Mail.ru Group and UK football team Arsenal.
Roman AbramovicRoman Abramovic ($10.9bn) the largest shareholder in Evraz, Russia’s second-biggest steelmaker. Abramovic also owns stakes in Norilsk Nickel and London’s Chelsea Football Club. He built his fortune using dividends and sales of privatized assets acquired from the former Soviet Union, including Sibneft and Aeroflot.
Mikhail Prokhorov ($10bn) founder of Onexim Group, a Moscow-based company with interests in banking, insurance, energy and sports and which also holds a 17 % stake in Rusal and 20% in Uralkali, Russia’s biggest potash producer. Prokhorov also owns the Brooklyn Nets and the Barclays Center arena.
Dmitry RybolovlevDmitry Rybolovlev ($9.4bn) who sold two Russian fertilizer producers for almost $7.5bn in 2010 and 2011. He also sold more than $1bn of Uralkali stock at the company’s 2007 initial public offering, and bought art, jewelry, homes, a yacht, a stake in the Bank of Cyprus and AS Monaco football club.
Vladimir Lisin ($9bn), chairman and largest shareholder of Novolipetsk Steel, Russia’s largest steelmaker. The publicly traded company produced 15.9m tons of steel last year and posted revenues of $8bn. Lisin also owns Freight One, which controls about 16% of Russia’s rail cars, port facilities operator UCL Port; and the VBTH shipping company.

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$4.5bn financing deal makes Jack Ma Asia’s richest man – Bloomberg

Alibaba CEO Jack MaAlibaba founder and chairman China’s Jack Ma has overtaken his compatriot and Dalian Wanda owner Wang Jianlin as Asia’s richest man. Ma leapfrogged the property developer and cinema chain operator after the e-commerce giant’s (more…)

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Vkontakte founder makes it onto Forbes top 200 Russian rich list

Vkontakte founder Pavel DurovPavel Durov — the founder of Russia’s most popular social network Vkontakte and mobile messaging app Telegram — has made it into Forbes list of the top 200 richest Russians for the first time. With an estimated wealth (more…)

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Number of Beijing billionaires overtakes New York

Beijing skylineBeijing billionaires: There are now more billionaires in Beijing than in New York, according to this year’s  Hurun Report, which calculates that the Chinese capital is home to 100 billionaires compared to the Big Apple’s 95, Moscow’s 66, Hong Kong’s 64 and Shanghai’s 50. The report’s founder Rupert Hoogewerf puts China’s explosive wealth creation down to the recent flood of new IPOs triggered by a relaxation in market regulations. 

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Rotenberg expected to gain control of Sheremetyevo airport

Arkady Rotenberg

Arkady Rotenberg

Vladimir Putin’s long-time judo sparring partner Arkady Rotenberg and his billionaire partner Alexander Ponomarenko, are set to become majority stakeholders in Moscow’s Sheremetyevo airport after the Russian president signed a decree last week reducing the state’s ownership from 83% to 30%. Although the decree (more…)

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Gutseriyev clan overtakes Rotenbergs as richest dynasty

Mikhail GutserievOil billionaire Mikhail Gutseriev, his brothers Said-Salam and Khamzat and nephew Mikhail Shishkhanov have overtaken Arkady and Boris Rotenberg as Russia’s richest family, according to Forbes Russia. The Rotenberg family fortunes have dropped from $5.55bn to $2.95bn over the past year as its senior members have felt the effect (more…)

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‘Kremlin’s banker’ Sergei Pugachyov sues Russia for £15bn

Sergei PugachyovSergei Pugachyov, once know as the Kremlin’s banker, is suing Russia for $15bn over what he describes as the state’s illegal appropriation of his assets. Once a senator in Russia’s upper house of parliament, Pugachyov fled Russia for London in 2011 after a criminal investigation (more…)

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Alibaba opens registered office in Russia as AliExpress corners the market

AlibabaChina’s Alibaba Group has opened a registered office in Russia, where its online retail operation AliExpress already attracts 15.6m customers each month, making it by far and away the country’s most popular e-commerce site. When the Chinese company (more…)

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Two Russian billionaires in UK’s ten richest but Ukrainian tops the Sunday Times list

Warner Music Group owner Leonard Blavatnik

Warner Music Group owner Leonard Blavatnik

Bloomberg

Two Russian billionaires – Alisher Usmanov and Roman Abramovich – are among the top richest people in the UK, according to this year’s Sunday Times rich list, although Usmanov (4th with $14.81bn) has lost top place to the owner of the Warner Music Group, the Ukraine-born tycoon Leonard Blavatnik, whose fortune is calculated at $19.91bn. Chelsea FC owner Abramovic comes in at 10th place, with the value of his assets dropping from £1.23bn to £7.29bn.

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United Wagon Company plans partial flotation to fund product development

Alexander Nesis

Alexander Nesis

Dmitry Lebedev/Kommersant

Russian rail car manufacturer United Wagon Company is planning to float at least 10 % of its shares on the Moscow stock exchange in the first IPO that Russia will have seen for over a year. Part of billionaire Alexander Nesis’s ICT Group, the flotation is expected to raise (more…)

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Russian billionaires’ club loses 23 members thanks to economic crisis

Yury Kovalchuk, 'Putin's personal banker'

Yury Kovalchuk, ‘Putin’s personal banker’

Russian billionaires: The number of Russian billionaires fell from 111 to 88 last year as the country’s business elite felt the force of the country’s economic crisis and the impact of sanctions. According to the latest issue of Forbes Russia, the total net worth of Russia’s top 200 wealthiest businessmen shrank by $73bn during the course of 2014. (more…)

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Kuban Agroholding in talks with Chinese and Arab investors

Oleg DeripaskaKuban Agroholding is in talks with Chinese and Arab strategic investors and funds about the sale of a minority stake in the company. according to the managing director of its Basic Element’s agricultural division, Andrei Oleinik. In an interview in Kommersant, (more…)

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Russia reviews public procurement process as Forbes publishes list of “private club”

Andrei Bokarev

Andrei Bokarev

Forbes

Iskhander Makhumodov

Iskhander Makhumodov

Forbes

  1. Iskander Makhmudov and Andrey Bokarev
    • Companies & Major Shareholdings: Transmasholding (33%), Metrovagonmash (16.9%), Oktyabrsky Electric Plant (24.5%), Roslokomotiv (33%)
    • Main Clients: The Moscow Metro, Russian Railways
  2. Arkady Rotenberg
    • Companies & Major Shareholdings: SGM (75.5%), TEK Mosenegro (75.5%)
    • Main Client: Gazprom
  3. Ivan Shabalov
    • Companies & Major Shareholdings: Pipe Innovation Technologies (100%)
    • Major client: Gazprom
  4. Valery Abramov and Victor Perevalov
    • Companies & Major Shareholdings: VAD (100%)
    • Main client: Rosavtodor and its regional office
  5. Gennady Timchenko
    • Companies & Major Shareholdings: Stroytransgaz JSC (59.85%), Stroytransgaz CJSC (15.75%), IKSK ARKS (15.75%), USAC (15.75%)
    • Main clients: Gazprom, Ministry of Sport, Moscow’s Department of Construction
  6. Alexander Pockets
    • Companies & Major Shareholdings: Eurasian Pipeline Consortium (100%)
    • Main Client: Transneft
  7. Ziyaudin Magomedov
    • Companies & Major Shareholdings: Stroynovatsiya (100%), Globalelectroservice ( 100%)
    • Main Clients: Rosaviation Rosavtodor, IDGC of Siberia, Eastern UES
  8. Anatoly Antipov
    • Companies & Major Shareholdings: Transugstroy ( 73%)
    • Main Clients: Moscow’s Department of Construction, Russian Railways
  9. Igor Rotenberg
    • Companies & Major Shareholdings: Mostotrest (26.4%) TSM (22.2%), Gazprom Drilling (100%)
    • Main Clients: Federal Air Transport Agency, Road Service, Moscow’s Department of Construction, Highways
  10. Alexey Repik
    • Companies and Major Shareholdings: R-Pharm (100%)
    • Main Client: Ministry of Health and its regional offices

 

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US freezes $640m of Russian billionaires’ assets

Billionaire Yuri Kovalchuk "Putin's personal banker"

Billionaire Yuri Kovalchuk “Putin’s personal banker”

US freezes $640m of Russian billionaires’ asset: Banks controlled by three billionaire friends of Russian President Vladimir Putin have seen about $640m of assets frozen in the U.S. in retaliation for the Kremlin’s actions in Ukraine, according to U.S. government records. The figures were published yesterday by (more…)

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Fridman threatens to sue UK over North Sea oil fields

Mikhail Fridman

Mikhail Fridman

Fridman threatens to sue UK: Russian billionaire Mikhail Fridman has gone ahead with the acquisition of 12 North Sea field gas licences and says he may take legal action against the British government if it carries out its threat to force him to sell them on to a third party. Fridman has used his Luxembourg-based LetterOne investment vehicle (more…)

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Forbes Rich List loses 33 Russian billionaires

Vladimir Potanin, Interros

Vladimir Potanin, Interros

Russipedia

Forbes Rich List: 33 Russian billionaires have fallen off this year’s ranking of the world’s richest people published by Forbes. According to the US magazine, the richest of Russia’s remaining 88 billionaires is (more…)

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North Sea oilfields sale to Russian oligarchs under threat from UK

German Khan

German Khan

Mikhail Fridman

Mikhail Fridman

North Sea oilfields sale: The UK government is threatening to block the sale of 12 North Sea oil and gas fields by Germany’s RWE Dea to LetterOne, the privately owned Luxembourg-based global investment vehicle backed by Russian billionaires Mikhail Fridman and German Khan. “If the proposed acquisition were to proceed in its current form, he [UK Energy Secretary Ed Davey] would be minded to require the companies to arrange for a further sale to a suitable third party,” the Department of Energy said in a statement on Saturday, suggesting that the deal could contravene the sanctions imposed by the US and EU on Russia in light of events in Ukraine and Crimea. In response to his missive, RWE Dea’s owners RWE, said that the €5bn deal would go ahead as planned today. The UK’s decision is seen as a blow to the two Russians, who have both sold a large chunk of their Russian oil and gas assets and have ambitions to turn LetterOne into a top global energy player. 

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Ukrtelecom Crimean network disabled as recriminations fly

Ukrtelecom owner Rinat Akhmetov

Ukrtelecom owner Rinat Akhmetov

Ukrtelecom Crimean network disabled: Ukrtelecom, which until yesterday boasted 80% of Crimea’s fixed-line subscribers as its customers, last night had its services disabled and between $20 and $30m of its assets unilaterally transferred to Russia’s Krymtelekomu. A spokesperson for Ukrtelecom – which is owned by Ukrainian billionaire Rinat Akhmetov – described the move as “deliberate sabotage” and “the illegal seizure of private property”, while the Crimean authorities insist that it was their counterparts in Kiev who disabled the service. Kommersant

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Fabio Capello’s wages to be paid by Usmanov on Minister’s request

Fabio Capello

Fabio Capello

AMSTERDAM, NETHERLANDS - AUGUST 12: England Manager Fabio Capello looks on prior to the International Friendly between Netherlands and England at the Amsterdam Arena on August 12, 2009 in Amsterdam, Netherlands. (Photo by Michael Regan/Getty Images) *** Local Caption *** Fabio Capello

Fabio Capello:  On the request of Sports Minister Vitaly Mutko, the Russian oligarch and billionaire Alsher Usmanov has stepped in to pay the $8m owed to the national football team’s head coach Fabio Capello and its general manager Oreste Cinquini. “We spoke with Alisher Usmanov for around an hour and managed to get things sorted out,” Mutko told the RBC-Sport agency. “As a citizen of Russia he would also have been embarrassed that we as a country that plans to host the next World Cup could not even pay the head coach.” The two men had not been paid since last June. The Moscow Times  
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