Brother of Moscow Region governor to sell Timchenko’s son-in-law share in fishing company

Brother of Moscow Region governor to sell Timchenko’s son-in-law share in fishing company
Maxim Vorobyev

Maxim Vorobyev and Gleb Frank previously agreed on the details of the deal.

Maxim Vorobyev, the brother of Moscow Region governor Andrey Vorobyev, will sell his shares in the Russkaya Rybopromyshlennaya Kompaniya – RRPK (Russian Fishery Company). This is reported on the website of the enterprise. The buyer is Gennady Timchenko's son-in-law, Gleb Frank.

The deal will be closed in case of obtaining approval from the Federal Antimonopoly Service (FAS).

It is specified that now Vorobyev owns 44.7% of the RRPK shares, and Frank owns 45.25%. Thus, after the deal is closed, Timchenko's son-in-law will become a controlling shareholder. Another 5.48% is now owned by the company's CEO Andrey Terkin, and 4.57% by RMD YuVA LLC, which is a subsidiary of the RRPK.

It is to be added that the company was founded in 2011 and specializes in fish production, pollock in particular. The company's revenue for 2016 amounted to 978 million rubles (~17.4 million USD), the gross profit is 521 million rubles (~9.3 million USD), and the profit from sales amounted to 83.9 million rubles (~1.5 million USD). The company has not yet published the figures for 2017.

Tags: Moscow
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