Mikhelson wound up managing 57.dos % off Sibur and you can Timchenko 37.3 percent. 5 percent. Those people professionals included Kirill Shamalov. By the 2014, considering Sibur’s declarations, Kirill had offered his personal risk to help you cuatro.step three per cent of Sibur.
KIRILL’S COUP
Once Mikhelson and you will Timchenko got drawn control over Sibur, the only method for anyone to locate a primary risk when you look at the the firm try for one of them so you’re able to commit to promote specific shares. Thankfully for Kirill Shamalov, Putin’s friend Timchenko are prepared to sell to him.
Timchenko and the president’s the newest man-in-laws first started discussions during the summer out-of 2013, predicated on a job interview Kirill provided to your Russian papers Kommersant inside the August this current year. The beginning of people discussions are two months immediately following Kirill got recognized his relationships so you’re able to Putin’s girl.
Inside the , Kirill went off out of their management role at the Sibur. However, he leftover their shareholding and you may lived for the because the member of the fresh board regarding directors. Four weeks afterwards, with the Aug. 1, the guy inserted a new organization entitled Yauza several that’s entirely belonging to your.
The following month, Yauza several bought 17 percent off Sibur from Timchenko. One took Kirill’s stake in the petrochemical company so you’re able to 21.3 per cent. Putin’s guy-in-law are now next prominent shareholder for the Russia’s best fuel and you may petrochemicals processor.
The 2009 season, an excellent spokesman to possess Timchenko informed Reuters you to their revenue to Kirill Shamalov happened once deals with many potential customers and is from the an industry speed. The brand new spokesman said the latest purchases shown a policy from Timchenko’s holding organization, Volga Class, away from diversifying their possessions.
This times, an excellent spokesman to have Volga Classification advised Reuters: “The transactions that happen to be held because of the Mr Timchenko’s structures which have shares out-of Sibur – the acquisition off shares in the providers, the newest income regarding the main display design to K. Shamalov – had a market reputation and you can taken place in accordance with the markets valuation of your own company.”
How could the then-32-year-old Kirill manage such as for instance a buy? Good Reuters examination of Yauza 12 account recorded at the bottom out of 2014 suggests that the business had borrowed 78.9 million roubles (in the $step 1.step 3 mil at that time). The cause in the money is actually the lending company in which their cousin was a great deputy chairman. The financing appeared “out of Gazprombank shielded into the assets belonging to me personally,” Kirill informed Kommersant.
The fresh terms of the mortgage aren’t identified, but Kirill’s company appears to have borrowed the bucks cheaply. Focus paid after the guy grabbed the borrowed funds, with regards to the Yauza 
several accounts, amounted in order to 343 billion roubles to your prevent out of 2014. One means an annual interest of around step 1.step 3 per cent in case your loan began whenever Yauza a dozen purchased this new Sibur offers, a great Moscow-centered borrowing from the bank specialist told you. The new expert added one just like the loan’s readiness day is unfamiliar, it is not sure whether or not you to definitely interest is different from the market industry rates or otherwise not.
Making use of the borrowed $1.step three mil, Kirill managed to choose the 17 percent share within the Sibur. The guy and his awesome spokesman denied to specify how much cash the guy reduced, apart from saying it was an industry speed.
Three independent analysts advised Reuters from inside the Oct this current year you to definitely Kirill’s complete holding out-of 21.step 3 percent try well worth about $2 mil. That will was in fact conservative. Into the Dec. 11, the Chinese oils company Sinopec provided to pay $step one.34 million just for ten percent of the organization.
Back to where it started
With his secret wedding on Igora skiing hotel along with his monetary chance, Kirill Shamalov encapsulates key areas of the current Russia. The fresh Putin point in time has its own origins inside the St. Petersburg, the spot where the chairman began his governmental career. His household members from the Ozero dacha collaborative, including aides the guy worked with regarding St. Petersburg mayor’s work environment, proceeded to help you money and you will determine once the Putin consolidated their stamina.