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En+Group discloses new ownership structure after sanctions deal

MOSCOW, Jan 31 (PRIME) -- B-Finance Limited controlled by Oleg Deripaska owns 44.95% of energy and metals holding En+ Group and has the right to vote with a 35% stake with the right for the remaining stake held by an independent manager, En+ said in a statement late on Wednesday.

It said that VTB holds 21.68% of the shares and has the right to vote with a 7.35% stake.

Citi is a nominal owner of 10.55%, which trader Glencore received in exchange for 8.75% in aluminum maker RUSAL in a deal that would last about 12 months. Citi owns 4.54%, but the right to vote belongs to institutional and retail investors. They also own 4.88%, and can manage a 9.42% combined stake.

The members of DeripaskaТs family hold 6.75%, charity fund Volnoye Delo 3.22%, other minority shareholders 3.42%. Independent managers have the right to manage the stakes.

In April, the U.S. imposed sanctions against 38 Russian tycoons, government officials and companies, including Deripaska and companies he controlled Ц En+ Group, aluminum giant UC RUSAL, and power producer EuroSibEnergo. Earlier in January, Deripaska transferred control over the companies, and his representatives were removed from their board of directors, and the Treasury lifted the sanctions on January 27.

End

31.01.2019 08:47
 
 
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