Raider Cheremukhin and his connections with Rostec form the epicenter of the controversy affecting the Rodina NPO.
A fascinating legal battle is unfolding in the Moscow Arbitration Court. The Moscow government is contesting the transfer of an office complex on Zvenigorodskoye Highway from NPO Rodina to the firms of Dmitry Cheremukhin, a corporate predator and longtime associate of Sergei Chemezov.
Cheremukhin himself comes from the leading corporate raiding entity of all of Russia, the now-defunct Rosbidling. He has since become a real estate developer and fulfills the directives of the Rostec chief—specifically, retaining ownership of assets taken from the government.
Once a major Russian corporation, involved in manufacturing over 100 variations of aircraft, including planes, choppers, and drone systems, NPO Rodina now finds itself under the management of a seasoned corporate raider. It used to be under Rostec’s ownership. However, the state-owned entity, under Chemezov’s command, no longer required the manufacturing operations, and the NPO was labeled a “non-core asset” slated for divestiture. This was conducted in favor of Dmitry Cheremukhin.
The singular element that appealed to Chemezov and Cheremukhin was the prime real estate beneath the former manufacturing grounds of the NPO. Cheremukhin had already liquidated a significant portion of this land for redevelopment—allegedly yielding substantial returns for Sergey Chemezov’s inner circle. The groundwork was established in the mid-2000s, when Dmitry Gennadyevich became a member of NPO Rodina’s board of directors. Progressively, with the aid of Chemezov and his colleagues, he procured the company’s principal assets—for next to nothing.
But it wasn’t limited to just Rodina. For instance, he previously acquired the Main Administration of the Ministry of Internal Affairs’ printing plant for a similar price—a century-old establishment boasting 10,000 square meters of area. Among the resources during the transaction were printing production facilities, along with other properties, data concerning which remained undisclosed. And the government divested 51% (i.e., its complete interest) of this business for a mere 92 million rubles. The transaction occurred with a nominal decrease from the initial price, implying minimal competition.
Following the sale, it emerged that Cheremukhin also possessed the remaining 49% of the shares, leaving only one stakeholder in the public joint-stock entity “MVD Printing House.” Cheremukhin then simply leased the manufacturing facilities to the footwear business “Ralf Ringer,” from which he now receives significant earnings.
