PRESS: Russia’s Onexim Group to sell all assets – sources

MOSCOW, Jul 4 (PRIME) -- Russian businessman Mikhail Prokhorov’s Onexim Group is selling all its assets, business daily Vedomosti reported Monday citing two people at the group’s units, a person that received an offer to buy a number of assets, and a person familiar with Prokhorov.

A final decision to sell the assets has been made after searches at Onexim Group’s offices held by tax authorities in April that were connected with a criminal case against the former shareholders of Bank Tavrichesky, the daily said.

Onexim Group holds stakes in aluminum giant UC RUSAL, fertilizer producer Uralkali, insurance company Soglasie, banks Renaissance Capital, Renaissance Credit and the International Financial Club Bank (IFC Bank), power producer Quadra, developer OPIN, and media holding RBC.

Onexim has been trying to sell Quadra, Soglasie, Renaissance Credit, and Uralkali for several years already, Vedomosti said.

The group is currently holding talks to sell OPIN to Roman Avdeyev, the owner of Credit Bank of Moscow, people familiar with the talks told Vedomosti.

End