Forbes: Mikhail Fridman is Russian Businessman of the Year
The founder of Alfa Group and the largest shareholder of LetterOne invested in foreign companies more than $5 billion - a record amount for Russia.
Forbes magazine Businessman of the Year award goes to Chairman of the Alfa Group Supervisory Board (the owner of 90.1% stake in Alfa Bank, 48% stake in the retailer X5 Retail Group, A1 and Rosvodokanal) and largest shareholder of the Luxembourg holding LetterOne (it owns 56.2% stake in VimpelCom too) Mikhail Fridman. The edition estimates that Fridman invested $5 billion in foreign companies - record for Russian businessmen.
In 2017 LetterOne closed two major transactions: he acquired the English healthy food chain Holland&Barrett for $2.3 billion and invested $3 billion in the fund of Pamplona Capital Management, owned by former partner of Fridman Alexander Knaster. The fund purchased the American companies Parexel (medicine) and BakeMark (bakery industry). The acquisition of Parexel cost $ 4.5 billion.
The magazine also noted the increase in Alfa-Bank's profit by international standards in annual terms. In addition, X5 Retail Group, which is also part of Alfa Group, has almost caught up with the capitalization of Sergey Galitsky’s Magnit - leader of the retail market. At the close of trading on the London Stock Exchange on December 20, the capitalization of X5 Retail Group was $10.5 billion.
At present, the fortune of Mikhail Fridman is estimated at $14.6 billion.
It concerns entrepreneur Dmitry Motorin, Boris Usherovich, a co-owner of the Group of Companies 1520, and Novoe Vremya board member, Ivan Stankevich. Motorin is accused of giving a bribe on an especially large scale, and Stankevich and Usherovich are charged with bribe-taking.
This week, the judicial debates in the trial of Vladimir Barsukov-Kumarin charged with creation of Tambovskie organized criminal group have been finished in the Kuibyshevsky District Court of St. Petersburg. If the court upholds the stance of the state prosecution, the once-influential criminal ‘authority’ may be convicted to almost 25 years behind bars. In reality, this translates into a life term for the legend of criminal St. Petersburg.