FT: Mikhail Fridman and Petr Aven intend to sell their shares in Alfa-Bank for $2.3 billion due to sanctions
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Russian billionaires Mikhail Fridman and Petr Aven are ready to sell their shares in Alfa-Bank for $2.3 billion (178 billion rubles) to their business partner Andrey Kosogov. Thus, businessmen intend to achieve the lifting of Western sanctions. Writes about it Financial Times (FT) with reference to four interlocutors familiar with the terms of the deal.
According to the FT, Andrei Kosogov, who did not fall under Western sanctions, has already agreed to acquire shares in a credit institution. Since March 2022, the businessman owns a 40.96% stake in Alfa-Bank through ABH Holdings – he is the largest beneficiary of the organization. Petr Aven owns 12.4% of the shares, Mikhail Fridman – 32.9%.
One of the sources said that Messrs Fridman and Aven “want to do everything possible to get rid of their Russian assets in order to get the sanctions lifted.” Andrey Kosogov confirmed to the FT that the deal had been agreed, but declined to comment further.
The deal, according to the FT, could be closed this spring. Its implementation requires the approval of regulatory authorities, including the Bank of Russia, as well as US and EU sanctions regulators. According to the newspaper, before the start of the special operation, the bank’s value was estimated at $10.6 billion.
Mikhail Fridman and Petr Aven came under EU and UK sanctions.
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