Four executives and you will former managers had the rest 5

Mikhelson finished up owning 57.dos % off Sibur and you will Timchenko 37.3 percent. 5 percent. Those executives provided Kirill Shamalov. Because of the 2014, predicated on Sibur’s declarations, Kirill had prolonged his or her own stake so you can cuatro.step three per cent off Sibur.


Once Mikhelson and you may Timchenko had drawn control of Sibur, the only path for anyone to track down a primary share into the the organization are for 1 of them to help you invest in offer particular offers. Luckily for us getting Kirill Shamalov, Putin’s pal Timchenko try ready to sell to your.

Timchenko in addition to president’s the guy-in-laws first started talks during the summer out-of 2013, considering a job interview Kirill provided with the Russian paper Kommersant during the August this season. The start of men and women conversations try a few months immediately after Kirill had well known their wedding so you can Putin’s daughter.

When you look at the , Kirill wandered down of his management role in the Sibur. However, the guy kept his shareholding and you may existed to the due to the fact member of new board from directors. Five weeks after, to the Aug. step 1, he inserted another type of business titled Yauza 12 that’s completely owned by him.

The following month, Yauza a dozen bought 17 % from Sibur from Timchenko. You to took Kirill’s stake on the petrochemical team to 21.step 3 per cent. Putin’s kid-in-laws is actually today the second prominent stockholder in the Russia’s best fuel and you will petrochemicals processor.

The 2009 seasons, a spokesman to possess Timchenko told Reuters that their purchases so you can Kirill Shamalov happened after transactions with several potential buyers and you can was within market rates. The spokesman told you the latest deals reflected a policy away from Timchenko’s holding providers, Volga Classification, of diversifying their property.

So it day, an excellent spokesman to possess Volga Group informed Reuters: “Most of the deals that have been used of the Mr Timchenko’s structures having offers out-of Sibur – the acquisition away from offers from the organization, new income from the main share construction to K. Shamalov – had a market profile and you can took place in line with the market valuation of your own business.”

How could the after that-32-year-dated Kirill afford instance a buy? A beneficial Reuters study of Yauza a dozen accounts filed at the end out of 2014 signifies that the firm had lent 78.nine mil roubles (regarding the $step 1.step 3 billion at that time). The source regarding the money is actually the financial institution where his sis try a great deputy chairman. The financing arrived “away from Gazprombank protected on the assets owned by myself,” Kirill advised Kommersant.

The brand new regards to the loan are not known, however, Kirill’s organization seemingly have lent the bucks cheaply. Appeal paid back shortly after he took the mortgage, according to the Yauza 12 accounts, amounted so you’re able to 343 mil roubles towards the prevent out of 2014. You to equates to a yearly interest rate of around step 1.step three percent in case the loan first started when Yauza 12 ordered the new Sibur shares, an effective Moscow-depending credit specialist said. The fresh new analyst extra you to because loan’s readiness date are unfamiliar, it’s unclear whether you to rate of interest is different from the business rate or not.

Utilising the lent $step 1.step three billion, Kirill were able to purchase the 17 % risk inside Sibur. The guy and his spokesman refused to specify how much the guy paid down, except that stating it had been an industry rates.

Around three separate analysts informed Reuters within the October this year that Kirill’s full holding away from 21.step three per cent are well worth at the very least $2 billion. That can had been old-fashioned. Towards the Dec. 11, new Chinese oil business Sinopec offered to pay $step 1.34 million for 10% of the business.

Back to where it started

Together with secret relationship from the Igora skiing resort and his awesome financial fortune, Kirill Shamalov encapsulates key aspects of the present Russia. The fresh Putin point in time has its root when you look at the St. Petersburg, where the president began their governmental community. His family relations from the Ozero dacha collaborative, including aides the guy caused on St. Petersburg mayor’s workplace, continued so you can wide range and you can influence because the Putin consolidated his stamina.