The richest man in Russia seems to have managed to avoid the “freezing” of his share, worth 1.1 billion euros, in Tui.
The reason for billionaire Alexei Mordasov, which is the largest shareholder (with a 34% stake) in Tui, after boosting its stake in the company during the pandemic.
After Mordashov was included in the sanctions list, he sold a large stake in Tui (29.9%) to Ondero, the British Virgin Islands tax haven. Also, as Tui announced a few days ago, the remaining 4.1% was transferred to Mordashev’s Russian investment vehicle, called Severgroup.
Tui also announced that the transfers took place on February 28, the day Mordashov entered the list of EU sanctions. Under the sanctions, his entire stake in the world’s largest tourist group would have been “frozen”, meaning he could neither sell his shares nor receive dividends. He would also be unable to vote on the board. of the company or to exploit the profits from its share in the company in any way. He resigned from the board. of Tui on March 2.
Tui also confirmed that the small stake in Severgroup, worth 185 million euros, has “frozen”. The group said in a statement that it did not know who the owners of Ondero were and whether its shareholding was subject to Western sanctions.
Such as explained a Tui spokesman“We can not judge if and how the sanctions there. Tui would just like to know if there is a majority shareholder (in Ondero). The information obligations under the capital market law in Germany apply to all shareholders of companies, regardless of their registered office. The company could not investigate the matter or locate Ondero shareholders, as Tui and German regulator BaFin had not been notified of additional voting rights.
It is recalled that Mordashov was among them first oligarchs targeted by Western sanctions. In fact, as the EU argued. His investments in Rossiya bank and his participation in television stations played a role in destabilizing Ukraine, projecting pro-Russian messages.
moneyreview.gr with information from Guardian
Follow Skai.gr on Google News
and be the first to know all the news
