Russneft Stocks Seized on Tax Evasion
The RF Interior Ministry’s Investigating Committee has finally managed to seize all stocks of Russneft, which president, Mikhail Gutseriev, faces charges of tax evasion and illegal enterprise. Formally, the stocks belong not to Gutseriev but to some independent companies and exactly through them Oleg Deripaska is soon expected to take Russneft under control.
In emerged yesterday that Interior Ministry’s investigators finally managed to seize 100,000 stocks (100 percent) of Russneft Oil Company. The respective legal resolution was provided by Lefortovo District Court of Moscow July 31.
To be more precise, the court ruled to seize Russneft stocks owned by Milanfo (15,200 stocks), Evangelica (20,000), Nadezhnost (9,700), Cyprus Shaddock Trading Ltd. (20,000), Spektr (20,000) and Mlada (15,100). On aggregate, the above six firms have 100 percent in Russneft; all of them are subordinate to some offshore companies. Officially, Gutseriev doesn’t control even the holders of Russneft, though he is generally thought to be its true owner.
Moreover, a deal is being prepared to sell Russneft stocks to Basic Element of Oleg Deripaska and the respective application has been filed to the Federal Antimonopoly Service. The stocks’ seizure won’t affect the deal, it is clear already. “Now Deripaska can get discount of up to 50 percent,” forecasts Georgy Ivanin, who heads an analytical department at Antanta Capital. “That is the company’s price could be $3 billion to $4.5 billion.” Previously Gutseriev evaluated Russneft at $9 billion and the analysts spoke of $6 billion.
www.kommersant.com
All the Article in Russian as of Aug. 09, 2007
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