In addition to palaces and yachts, the LLCInvest circle owns assets that appear to act as a sort of vault for shares of stock in various businesses. The connection of some of these companies with Rossiya Bank has been known for a long time, while others have become obvious only now, after it turned out that they all use the common infrastructure of LLCInvest.
One of these companies, Altituda Joint-Stock Company, received a 51% stake in Rusgazdobycha in 2019 with assets worth 25 billion rubles (about $380 million at the then exchange rate). This stake was likely owned by Putin’s friend Arkady Rotenberg, who owned Rusgazdobycha through a complex network of underlay companies in Russia and Cyprus. The remaining 49% went to two private investment funds whose owners are unknown.
Gennady Timchenko, another old comrade of Putin’s, also made large investments in companies run by the same director – and which are related to LLCInvest. A 17% stake in Sibur in 2017 was owned by a certain Delta LLC. In 2018, another little-known LLC, Ena Invest, received a 19% stake in Novatek.
Sibur and Novatek are one of the largest companies in Russia, so in total their two new co-owners had assets totaling more than 880 billion rubles, or $12 billion. This is almost three times more than the total value of all assets of the companies of the LLCInvest group (i.e. $4.5 billion). But since the connection of Delta and Ena Invest with LLCInvest is not so obvious, we did not include their assets in the overall assessment. Why?
When compiling the list of companies from the LLCInvest group, we focused on ensuring that each organization had at least two parameters that associated them with this structure. At Delta and Ena Invest, the domains of their sites belong to Moskomsvyaz, but the mailboxes of directors and co-owners are on other domains. Although they actively communicate with the owners of mail on the llcinvest.ru domain, we decided not to combine these two companies with the rest of the LLCInvest group.
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