Mikhelson wound-up running 57.dos percent off Sibur and you may Timchenko 37.3 percent. 5 %. Those people managers incorporated Kirill Shamalov. By the 2014, considering Sibur’s declarations, Kirill got lengthened their own risk so you can cuatro.step 3 % out-of Sibur.
KIRILL’S COUP
Just after Mikhelson and you may Timchenko got removed command over Sibur, the only method for anyone to acquire a major risk inside the organization try for one ones in order to commit to promote certain offers. Fortunately having Kirill Shamalov, Putin’s friend Timchenko was happy to sell to him.
Timchenko and president’s brand new son-in-rules first started conversations in the summertime regarding 2013, based on a job interview Kirill provided into Russian magazine Kommersant from inside the August this season. The beginning of people talks was a few months immediately after Kirill got recognized his relationship to Putin’s girl.
Into the , Kirill wandered off out of their management character within Sibur. But the guy kept his shareholding and resided to your because person in the newest panel of administrators. Four days later on, for the Aug. step 1, he entered a unique business called Yauza several which is wholly belonging to him.
The following month, Yauza several bought 17 % out of Sibur out of Timchenko. One to got Kirill’s share from the petrochemical providers in order to 21.3 percent. Putin’s guy-in-laws was today next prominent stockholder into the Russia’s leading gasoline and you can petrochemicals processor.
This past 12 months, an excellent spokesman getting Timchenko informed Reuters that their sale to help you Kirill Shamalov happened just after deals with lots of potential customers and you will is actually at market rate. The latest spokesman told you the brand new revenue shown a policy out of Timchenko’s carrying business, Volga Class, out of diversifying the possessions.
It day, a beneficial spokesman to have Volga Category advised Reuters: “Every transactions click for more info which have been presented of the Mr Timchenko’s structures which have shares of Sibur – the acquisition away from offers in the company, the revenue from a portion of the express build so you’re able to K. Shamalov – had an industry reputation and occurred based on the market valuation of one’s team.”
How could the fresh next-32-year-old Kirill manage such as a buy? A Reuters examination of Yauza several levels recorded in the bottom away from 2014 implies that the organization got lent 78.9 mil roubles (regarding the $1.step 3 million during the time). The main cause of money was the lending company where their aunt was a good deputy chairman. The credit showed up “from Gazprombank covered to the possessions owned by myself,” Kirill advised Kommersant.
Brand new regards to the loan are not known, but Kirill’s organization appears to have lent the cash affordably. Attention paid down shortly after he got the borrowed funds, with regards to the Yauza several membership, amounted so you can 343 million roubles toward end out of 2014. You to definitely means a yearly rate of interest of approximately 1.step three % should your loan began when Yauza several bought the Sibur offers, a Moscow-dependent borrowing from the bank analyst said. This new expert extra you to since loan’s maturity time is actually not familiar, it is not sure if or not that interest differs from the business rates or not.
By using the lent $step 1.step three mil, Kirill was able to find the 17 per cent share within the Sibur. The guy with his spokesman refuted so you can specify simply how much the guy paid off, apart from saying it was an industry price.
Three separate analysts advised Reuters inside the Oct this year that Kirill’s complete carrying from 21.step 3 per cent try worth at the very least $dos mil. Which can have been conventional. With the Dec. eleven, the brand new Chinese oils providers Sinopec provided to pay $1.34 billion for just 10 % of providers.
Full circle
Together with secret relationships in the Igora skiing lodge and his monetary fortune, Kirill Shamalov encapsulates secret aspects of the present Russia. The Putin time has its root inside the St. Petersburg, where president first started his political job. Their members of the family from the Ozero dacha collaborative, as well as aides he caused regarding the St. Petersburg mayor’s office, proceeded to wealth and you can determine since Putin consolidated their stamina.