Mikhelson wound-up having 57.2 percent from Sibur and you may Timchenko 37.step 3 %. 5 per cent. The individuals executives integrated Kirill Shamalov. By 2014, according to Sibur’s declarations, Kirill had longer his personal stake so you’re able to 4.3 percent out-of Sibur.
KIRILL’S COUP
Immediately following Mikhelson and you will Timchenko had pulled control over Sibur, the only path for everyone to track down a major share inside the the organization are for 1 ones to help you invest in sell particular offers. Fortunately to possess Kirill Shamalov, Putin’s friend Timchenko are willing to market to your.
Timchenko plus the president’s the fresh new son-in-rules first started conversations in the summer regarding 2013, based on a job interview Kirill offered with the Russian papers Kommersant inside August this current year. The beginning of men and women conversations are a few months once Kirill had known their relationship to help you Putin’s child.
Into the , Kirill strolled off off his administration character in the Sibur. But he leftover their shareholding and you can resided on the as person in the new board off directors. Four weeks later, on the Aug. step 1, the guy joined a new organization named Yauza several that’s entirely belonging to him.
The following month, Yauza 12 ordered 17 % of Sibur out of Timchenko 
. You to grabbed Kirill’s risk on petrochemical organization so you’re able to 21.step three percent. Putin’s man-in-rules is actually today another largest shareholder in the Russia’s best gasoline and you will petrochemicals chip.
The 2009 seasons, good spokesman to own Timchenko informed Reuters one to his profit so you’re able to Kirill Shamalov occurred immediately following dealings with many potential buyers and you will is actually at an industry speed. The new spokesman said new product sales reflected an insurance policy from Timchenko’s carrying company, Volga Group, regarding diversifying the assets.
This month, a great spokesman for Volga Category advised Reuters: “All the deals which were used by Mr Timchenko’s formations with shares regarding Sibur – the purchase off offers from the providers, the brand new product sales from the main display construction so you can K. Shamalov – had an industry reputation and happened based on the field valuation of one’s team.”
How would the newest next-32-year-old Kirill pay for such as for example a purchase? A Reuters examination of Yauza 12 profile submitted at the end regarding 2014 means that the company had borrowed 78.9 billion roubles (from the $1.step three mil during the time). The main cause of money try the lending company in which his aunt is a great deputy president. The financing came “from Gazprombank safeguarded toward possessions belonging to me personally,” Kirill advised Kommersant.
This new terms of the mortgage aren’t understood, but Kirill’s business appears to have lent the cash inexpensively. Attract repaid after the guy got the mortgage, according to Yauza 12 profile, amounted to help you 343 billion roubles on the avoid out of 2014. You to definitely compatible a yearly interest of around step one.3 % if the loan began whenever Yauza several bought the new Sibur shares, good Moscow-dependent borrowing from the bank analyst said. The latest expert added that just like the loan’s readiness time was unknown, it’s unclear whether or not one to interest rate differs from the marketplace price or perhaps not.
Making use of the borrowed $step one.step 3 mil, Kirill were able to purchase the 17 per cent stake inside Sibur. He along with his spokesman rejected to indicate just how much the guy paid back, apart from claiming it actually was market speed.
Around three separate experts advised Reuters during the October this year one to Kirill’s total holding away from 21.step 3 per cent is really worth at the very least $2 million. That have been traditional. Into Dec. 11, the Chinese petroleum providers Sinopec offered to shell out $step 1.34 mil for only 10 % of business.
Full circle
Together with his wonders wedding in the Igora ski hotel along with his financial chance, Kirill Shamalov encapsulates trick areas of the current Russia. The newest Putin day and age has its own origins for the St. Petersburg, where the president began their political profession. His family unit members regarding the Ozero dacha cooperative, and aides he caused from the St. Petersburg mayor’s workplace, continued so you’re able to wealth and you may dictate as the Putin consolidated his electricity.