PRESS: Tycoon Prokhorov acquires 25% in shoe retailer Obuv Rossii

MOSCOW, Aug 4 (PRIME) -- Tycoon Mikhail Prokhorov, owner of Onexim Group, has acquired a 24.99% in Russian shoe retailer Obuv Rossii, Vedomosti business daily reported on Friday.

As of late 2016, Obuv Rossii CEO Anton Titov owned 96.37% in the company, but in March 2017, company Karyo Holdings Corp. from the British Virgin Islands acquired 24.99%. Documents of a payment system operator of Karyo Holdings say that Prokhorov was 100% beneficiary owner of the company as of late July, Vedomosti reported.

Karyo Holdings invested U.S. $20 million in capital of International Financial Club Bank, in which Prokhorov controls 47.4%, in the form of a subordinate loan.

Obuv Rossii, Onexim and Titov declined to comment.

Vedomosti reported that Obuv Rossii planned to float shares on the Moscow Exchange in 2014 and a source familiar with plans of the company told the business daily that Obuv Rossii maintains the plans.

Since 2016, Onexim Group has been selling its Russian assets, including part of a stake in aluminum giant UC RUSAL, stakes in fertilizer producer Uralkali, real estate developer OPIN, media holding RBC and other assets.

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