Five managers and you can previous managers possessed the remaining 5

Mikhelson finished up getting 57.dos per cent out of Sibur and you will Timchenko 37.3 %. 5 %. Those individuals managers included Kirill Shamalov. From the 2014, according to Sibur’s declarations, Kirill had lengthened his or her own stake so you’re able to 4.3 per cent off Sibur.

KIRILL’S COUP

Shortly after Mikhelson and Timchenko got taken control over Sibur, the only way for everyone to get a primary share when you look at the the firm is actually for just one of these so you’re able to commit to offer some shares. Thank goodness to own Kirill Shamalov, Putin’s pal Timchenko is actually prepared to sell to him.

Timchenko while the president’s the fresh new guy-in-laws began talks during summer off 2013, based on an interview Kirill gave for the Russian newsprint Kommersant for the August this season. The start of those individuals conversations try a couple months after Kirill had notable their matrimony so you can Putin’s girl.

In , Kirill walked off off their government role at the Sibur. But he kept his shareholding and resided toward while the person in the panel away from administrators. Four days later on, toward Aug. step 1, the guy joined another type of company named Yauza twelve that is entirely belonging to him.

The following month, Yauza 12 purchased 17 % away from Sibur of Timchenko. One to got Kirill’s risk in the petrochemical team in order to 21.step 3 per cent. Putin’s kid-in-law are today the next premier shareholder into the Russia’s leading gas and you will petrochemicals processor.

Earlier this season, an excellent spokesman to have Timchenko advised Reuters one to his product sales to Kirill Shamalov happened immediately after transactions with several potential buyers and you will is on an industry rates. New spokesman told you the fresh new revenue mirrored a policy out-of Timchenko’s carrying company, Volga Category, from diversifying their assets.

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This day, a beneficial spokesman having Volga Category told Reuters: “The transactions that have been conducted by Mr Timchenko’s formations having shares off Sibur – the purchase off shares throughout the business, brand new income of the main show framework so you can K. Shamalov – got a market character and you will happened in line with the markets valuation of one’s company.”

How would the latest after that-32-year-old Kirill afford such a purchase? A great Reuters study of Yauza a dozen account recorded at the end away from 2014 means that the firm had borrowed 78.9 billion roubles (from the $step one.step three mil at the time). The main cause for the money are the lending company in which their aunt try a beneficial deputy president. The credit arrived “from Gazprombank secured to the assets owned by me,” Kirill told Kommersant.

The newest terms of the mortgage commonly recognized, but Kirill’s company appears to have lent the bucks cheaply. Interest paid off just after he took the mortgage, with regards to the Yauza a dozen accounts, amounted to 343 mil roubles toward end away from 2014. One to equates to an annual interest rate around step 1.step 3 % in the event your loan first started when Yauza several ordered brand new Sibur offers, a great Moscow-based credit expert said. The brand new specialist extra one since the loan’s readiness day was not familiar, it’s unclear whether one to interest is different from the business speed or otherwise not.

Making use of the borrowed $1.step three billion, Kirill managed to purchase the 17 per cent stake within the Sibur. He and his spokesman declined so you can establish simply how much he paid, apart from claiming it was an industry speed.

About three separate experts informed Reuters when you look at the October this season one Kirill’s complete carrying of 21.3 % is well worth no less than $2 mil. That will have been traditional. Towards Dec. 11, this new Chinese petroleum organization Sinopec offered to spend $1.34 million for just 10% of one’s organization.

Back to where it started

With his secret relationship within Igora ski hotel and his awesome economic chance, Kirill Shamalov encapsulates key areas of today’s Russia. The fresh new Putin time has its sources in the St. Petersburg, where chairman began their governmental profession. His relatives in the Ozero dacha collaborative, and additionally aides the guy worked with on the St. Petersburg mayor’s office, continued to help you money and you may influence because the Putin consolidated his electricity.