Four executives and you may previous professionals had the remaining 5

Mikhelson ended up having 57.dos % out of Sibur and you will Timchenko 37.step 3 percent. 5 %. Those people professionals integrated Kirill Shamalov. By the 2014, according to Sibur’s declarations, Kirill got lengthened his own risk to 4.step three percent off Sibur.


Once Mikhelson and you may Timchenko had drawn control over Sibur, the only path proper locate a major share from inside the the business try for example of these to help you agree to offer particular offers. The good news is to own Kirill Shamalov, Putin’s friend Timchenko was happy to market to your.

Timchenko therefore the president’s the new boy-in-rules first started talks during summer away from 2013, centered on a job interview Kirill provided with the Russian newspaper Kommersant for the August this season. The start of men and women discussions is a couple months shortly after Kirill got renowned his relationships so you can Putin’s girl.

In the , Kirill walked off of their management character at the Sibur. But the guy leftover their shareholding and you may lived to your due to the fact person in the newest board out of directors. Five days later, toward Aug. 1, the guy entered yet another providers named Yauza twelve which is wholly belonging to him.

Next month, Yauza a dozen bought 17 % off Sibur away from Timchenko. One to took Kirill’s risk regarding the petrochemical business so you can 21.step three %. Putin’s man-in-law try now the next premier shareholder inside the Russia’s best gasoline and you may petrochemicals processor.

This past seasons, a beneficial spokesman to own Timchenko advised Reuters one to their profit to Kirill Shamalov took place immediately after transactions with many different potential buyers and try during the an industry rates. This new spokesman said brand new deals shown a policy out-of Timchenko’s holding team, Volga Category, out of diversifying their assets.

It few days, a great spokesman to own Volga Class told Reuters: “Most of the deals which were used by Mr Timchenko’s formations having shares off Sibur – the purchase out-of offers on business, the fresh new sale off the main share construction to K. Shamalov – got market profile and occurred according to the business valuation of company.”

How could the brand new following-32-year-dated Kirill pay for instance a buy? An excellent Reuters examination of Yauza 12 levels filed at the end off 2014 signifies that the company had borrowed 78.nine million roubles (regarding $1.step three million during the time). The source of the money try the lending company where their sister is actually an excellent deputy chairman. The financing showed up “off Gazprombank secured to the property belonging to myself,” Kirill informed Kommersant.

The newest terms of the mortgage are not understood, however, Kirill’s providers appears to have lent the money affordably. Appeal paid off shortly after the guy got the borrowed funds, according to Yauza several account, amounted to 343 mil roubles towards the end regarding 2014. One equates to a yearly interest of about step 1.3 per cent in case the mortgage first started when Yauza 12 bought the fresh Sibur shares, a good Moscow-established borrowing from the bank expert told you. The fresh new expert extra you to since loan’s readiness date are unfamiliar, it’s uncertain if one to rate of interest differs from the marketplace price or otherwise not.

By using the lent $1.step three million, Kirill managed to purchase the 17 % stake for the Sibur. The guy and his spokesman refused so you can identify simply how much he paid, apart from claiming it absolutely was market speed.

Three separate analysts advised Reuters inside Oct in 2010 you to definitely Kirill’s complete holding out-of 21.step three per cent is actually worth at the least $2 billion. That may was conventional. To the Dec. eleven, new Chinese petroleum company Sinopec accessible to shell out $step one.34 mil for 10 % of your own company.

Back to where it started

Together with magic matrimony in the Igora ski lodge and his monetary fortune, Kirill Shamalov encapsulates trick aspects of today’s Russia. The newest Putin day and age has its sources inside St. Petersburg, in which the president first started their governmental occupation. Their loved ones about Ozero dacha collaborative, and additionally aides he caused about St. Petersburg mayor’s work environment, proceeded to help you riches and you will determine since the Putin consolidated their strength.