Andrei Kostin again became a forced friend of Oleg Deripaska

VTB took shares of the En + Group group on the pledge of the Chinese CEFC.
25.05.2018
Kommersant
Origin source
VTB, which became the minority shareholder of En + Oleg Deripaska in 2011 and reduced its share to 1.5% by December 2017, again owns a significant stake in the group, which is under US sanctions. Bank on margin call withdrew 6.25% of En + shares from AnAn Group, related to the collapsed Chinese CEFC. The total share of VTB in En + reached 9.62%.

"An An's En + package is now owned by VTB after the margin call has worked. VTB's stake in En + is 9.62%, "Yury Solovyev, VTB Deputy Prime Minister, said on May 25 to Reuters.

En + Group controls the major industrial assets of Oleg Deripaska, including Eurosibenergo and 48.13% of Rusal. Mr. Deripaska and his key companies were introduced by the US Treasury in the SDN-list in early April. In November 2017, En + held an IPO, during which shares of the majority shareholder's package and new securities were sold for $ 1.5 billion. The Singapore AnAn Group, associated with the now infamous Chinese group CEFC (its owner E Jianming encountered claims by law enforcement agencies of the PRC, and the company itself lost the possibility of funding in Chinese state-owned banks), was an anchor investor for the IPO. She bought 6.25% of En + for $ 500 million and immediately pledged this stake to VTB for repo. Kommersant sources started talking about the problems connected with this loan in the spring, when it became obvious that CEFC would not be able to close the deal to buy out 14% of Rosneft from the consortium Glencore and QIA (officially announced on May 6) .

VTB became a shareholder of En + in 2011, when the investment division of VTB Capital received 4.35% of the group for $ 500 million to repay the debt of Basic Element of Mr. Deripaska (the group was assessed for the transaction at $ 11.5 billion). After the IPO En +, the bank's share decreased to 3.81%, while the group repaid ahead of schedule its debt to VTB in the amount of $ 942.6 million. In December, 2.4% of En + from the bank, under a forward agreement from 2013, bought the "Basic Element" of Mr. Deripaska . It was then disclosed that VTB reduced its stake in En + (including AnAn repo) from 10.06% to 7.65%.

According to the source of Kommersant, Yury Solovyov's share in the 9.6% group includes papers that appeared with the bank under the forward agreement, but his details are not disclosed.

At the same time, the US Ministry of Finance requires that the American business withdraw from the debt and equity capital En + before June 5, and non-residents transactions with shares and the debt of the group threatens with secondary sanctions. Washington demands that the businessman lose control in Rusal and the GAZ group that can withdraw assets from sanctions, and Mr. Deripaska has already agreed to reduce his stake in En + below 50% (now about 66%) to help the aluminum company.

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