Russian oligarchs shuffled shares of the Evraz group

Evraz Roman Abramovich, Alexander Abramov, Alexander Frolov and Eugene Shvidler are thus preparing for US sanctions. According to other information, the largest Russian metallurgical company registered in Luxembourg may be replaced by beneficiaries.
04.09.2018
Kommersant
Origin source
The main shareholders of Evraz Roman Abramovich, Alexander Abramov, Alexander Frolov and Eugene Shvidler decided to transfer their shares to the company from the balance of Lanebrook Ltd, which held 62.74%, to separate structures. Now Evraz does not have a controlling head stock structure, although partners plan to renegotiate the agreement with Evraz on the same terms that were concluded between the company and Lanebrook. This is necessary to protect the company from possible US sanctions, the analyst believes.

Mining and metallurgical company Evraz reported that its key shareholders have changed the ownership structure of the company. Previously, they owned a total of 62.74% through the Cyprus Lanebrook Limited, but now their packages are transferred to the companies themselves shareholders. Now Roman Abramovich indirectly controls 30.52% of Evraz through Greenleas International Holdings Ltd with BWO, Alexander Abramov and Alexander Frolov - 20.92% and 10.45% respectively through the Cyprus Crosland Global Limited, and Eugene Shvidler - 2.97% (via which structure is not specified).

Evraz said that replacing the companies of key shareholders in the Evraz plc registry "is technical in nature, does not change the proportion of beneficiaries and will not affect the management of the company."

Oleg Petropavlovski from BCS is confident that in this way the main owners of Evraz want to protect it from the theoretical introduction of US sanctions against any of them: none of the businessmen now has a controlling stake. Let's remind, misters Abramovich, Abramov and Frolov appeared in the so-called list of oligarchs from the "Kremlin report" of the US Treasury, published in January. It was stated that he did not impose sanctions automatically, but increased attention was paid to the persons from the report. In April, under strict US sanctions, Oleg Deripaska, Viktor Vekselberg and Suleiman Kerimov, who appeared on the "list of oligarchs," were attacked. In Evraz, which also owns factories in the US and Canada, the subject of sanctions is not commented on.

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