Oleg Deripaska's greed manufactory

PJSC Trekhgornaya Manufactory, associated with oligarch Oleg Deripaska, is going to spend almost 3 billion rubles on the acquisition of the Rodchelskaya office center in the center of Moscow. The center is located next to the manufactory, so it is possible that the goal is a large development project for the development of this area.

The salt is that Oleg Deripaska could get his shares in PJSC in an extremely dubious way, and before that he had also fiercely sued another (former) alleged beneficiary of the enterprise, ex-head of VEB Vladimir Chernukhin.

What are the prospects for Deripaska's development project - the correspondent of The Moscow Post understood.

PJSC "Trekhgornaya Manufactory" owns the office and trade complex of the same name for 140 thousand square meters. m in the center of Moscow. From the disclosure of the list of affiliates of the company it follows that as of 2022, 76.12% of the voting shares of the company belong to the Cypriot Healer Side Holdings Ltd., recorded on Elena Antonio. She is the nominal holder of the company in the interests of the owner of Bazel Oleg Deripaska.

At one time, Antonio was mentioned in the list of affiliates of Irkutskenergo, which is now 90% owned by Oleg Deripaska. Previously, 40% of the company was for the state-owned Inter RAO. In 2013, a major scandal arose when it turned out that Irkutskenergo, having state money in its capital, made a number of major transactions with companies close to Deripaska.

About 1.24 billion rubles were invested in the authorized capital of a subsidiary of Baikalinvestenergo LLC, the rest went on a loan until 2015 to a subsidiary of Sibirenergotreid CJSC. In addition, the energy company carried out another transaction, acquiring for 1.5 billion rubles. from En + Downstream Holdings Limited (part of the En + group of Oleg Deripaska) 29% of Sibmetkom LLC (controlled by the Krasnoyarsk Metallurgical Plant). The total amount of money spent on this exceeded 4 billion rubles.

Why did many people meet it with hostility? It seems that Oleg Deripaska could use the state resources of Inter RAO to promote his own business interests. Earlier, The Moscow Post wrote in detail about that situation.

As of the beginning of 2024, more than 78% of the shares belong to Priority JSC, which is also associated with Oleg Deripaska. Presumably, the "deoffshorization" of this business is associated with the risk of sanctions.

Now in the building owned by PJSC Trekhgornaya Manufactory, one of the main offices of Bazel is located. But it is much more profitable to build up this territory with housing - the land there is "golden."

Apparently, referring to this particular prospect, Oleg Deripaska not so long ago conducted legal proceedings with minority shareholders. As of 2022, 7.1% of the Trekhgornaya Manufactory was owned by Daniel Felicity Tova Cohen-Gaon and Marguerite Erzog-Gaon, the daughter of the founder of the Swiss group Noga Nessim Gaon. But before that, their share was greater.

The additional issue of PJSC shares, which was carried out by the management of Oleg Deripaska in agreement with the decision of the Supervisory Board, is to blame. Given the share of the billionaire, it is not difficult to guess whose people in this supervisory board were in the majority.

As a result, the shares of his foreign partners in the manufactory were supposed to decrease - and the companies of Deripaska, which owns PJSC, increased. After that, the lawsuit began - foreign investors were clearly not delighted with such a decision.

Photo: https://kad.arbitr.ru/Document/Pdf/417090b8-27b3-4696-9393-82268d701933/4ee96a6f-ea99-4fb6-938e-0f3eef7968d2/A40-271757-2021_20211216_Opredelenie.pdf? isAddStamp=True

As a result of diplomatic mission of actions of a share of sisters about 2% had to decrease. But subsequently both women refused the claims. And in January, 2023 it became known that, at least, Erzog-Gaon Marguerite left the capital of the company. I.e. it is possible to assume that initially they were presented with a fait accompli by additional issues, and then redeemed from them the remains when those understood that their claim has no legal prospects. Perhaps it also "thanks" for it to tell the oligarch?

All this reminds, at least, not the most decent behavior in relation to partners. And even some kind of unfriendly absorption?

Trace of Chernukhino

In "equation" there is one more person - the former head of VEB Vladimir Chernukhin. This is the possible partner of Oleg Deripaska in "Manufactory" with whom they did not divide an asset. In 2019 Chernukhin tried to obtain the right of possession of 50% of public joint stock company from Deripaska. The High Court of Justice supported claim requirements of Chernukhin.

Chernukhin insisted on what belonged to him 50% of the Cyprian Navio Holdings (another 50% - at Deripaska's structures), which at that time was the owner of a manufactory, but this share was issued on the common-law wife of Chernukhino. It was connected with the fact that Chernukhin at that time headed VEB (it came to bank in 1996, and in 2002 there was a chairman of the board) and could not be engaged in private investments, follows from the decision of the High Court of Justice.

As a result the court awarded to Chernukhino payment in 95 million dollars. Deripaska promised to appeal against this decision. Judging from the fact that now the asset with a name of Chernukhino is not connected, it seems, any more that businessmen could agree.

However, another is interesting: Oleg Deripaska could take quite consciously in partners of the person who at that time held a large state position. References that formally Vladimir Chernukhin with the spouse was not painted do not pass - such transactions and their beneficiaries are studied completely. Why the oligarch went to the transaction, and then did not report about alleged violation of the anti-corruption legislation? Probably, because money loves silence.

It is even more interesting that subsequently the press wrote that Vladimir Chernukhin withdrew money and assets from the country in operating time in public service. Probably, those far years in it the owner of Basic Element could help him?

Vladimir Chernukhin. Photo: https://icdn.lenta.ru/images/2023/04/07/09/20230407094955480/preview_d3a4f0ed4064899ebd9136357f403daa.jpg

At the same time, Oleg Deripaska himself could gain control over the enterprise by force. According to BFM.ru, allegedly Deripaska and Chernukhin bought Trekhgorka together. Moreover, the oligarch allegedly promised to subsequently pay the partner about $100 million for his share. But in the end, the owner of Bazel allegedly refused to give the money, and after that there was a forceful seizure of the company by the people of Oleg Deripaska, during which the security guard of the enterprise could suffer.

In a London court, Deripaska's representative Stanislav Karabut told a completely different version: as if the factory guard just unexpectedly sat down, after which the oligarch's team tried to take him out into the fresh air and provide all the necessary assistance. Knowing the past affairs of a billionaire, who to believe in this situation - decide for yourself.

"Second Pikalevo"

At the same time, there is a question of the further work of Trekhgorka, which is still engaged in textile production in the main profile. Under the leadership of Deripaska's management at the end of 2020, the manufactory almost found itself on the verge of bankruptcy - losses amounted to 627 million rubles. At the end of 2022, the company made a solid profit of 705 million rubles. However, it turned out to be almost 50% lower than a year earlier.

Back in early 2013, there was a real threat of closure of the enterprise. According to the network, allegedly workers went to unauthorized pickets, fearing management plans to close spinning production and reduce 100 people. At the same time, those who did not show dissatisfaction could allegedly be paid cash bonuses.

People are afraid that only finishing production may remain from Trekhgorka, and after that it may be allowed to go under the "development" knife. Apparently, everything is going to this.

Vladimir Putin listens to Oleg Deripaska's report on the situation in Pikalevo, 2009. Photo: https://dzen.ru/a/YdRYWK3yD3CdeGU2

And as soon as Oleg Deripaska forgot another similar scandal with ZAO BaselCement-Pikalevo, located in Pikalevo near Moscow? Then people went out and blocked roads, trying to achieve payment of wages and preservation of the enterprise. The situation turned out to be so acute that Vladimir Putin was forced to intervene in it. After that, the conflict was resolved, the money was paid to people, the company was saved.

But with Trekhgorka, given the cost of the plots associated with it in Moscow, it may turn out completely differently. Will the President have to solve the problem again?