Business assets of Oleg Deripaska became toxic to investors

Ingosstrakh sold its stake in the GAZ group that fell under the sanctions.
Origin source
The insurance company Ingosstrakh, where the Italian Generali is a major shareholder, sold 17.5% of the shares of PJSC GAZ, which fell under US sanctions. Ingosstrakh declares that it has received substantial income from investments in GAZ.

The Ingosstrakh-Investments management company, owned by Ingosstrakh JV through InVest-Policy, sold 17.52% of the shares in the automaker PJSC GAZ, which is part of the Basic Element group Oleg Deripaska. This follows from a GAZ report on the corporate disclosure website.

According to the message, Ingosstrakh-Investments MC ceased to dispose of the package in GAZ Group on March 7. Its share, as it follows from the message, passed to the new owner - LLC "Investech" - on April 6. It was on this day that the United States announced new sanctions, which included Deripaska himself and his companies, including Basic Element and GAZ Group. According to SPARK, 100% of Investtekh belongs to the general director of the company Rimma Kalmykova.

"Ingosstrakh Investments Company withdrew from the share capital of GAZ Group, securing a significant return on investment made three years ago," RBC told the Ingosstrakh SPO press service, refusing to comment further.

The direct shareholders of the Ingosstrakh insurance company are several legal entities (the largest stake does not exceed 17% of shares) and Oleg Deripaska (owns 10% of shares). As follows from the Central Bank's data, 38.45% of the shares of Ingosstrakh SPJSC are controlled by Italian Assicurazioni Generali SpA through several companies, the beneficiary of 16.03% is Pavel Ezubov (longtime business partner of Deripaska), 15.68% - Victoria Brazhnik and 16 , 29% - Evgeny Agarkov. Ingosstrakh, Ingosstrakh and Ingosstrakh-Investments are not in the Basic Element group, but they are in the sphere of investment interests personally, Oleg Deripaska, the Basel website says.

Washington announced new measures against Russia on April 6, expanding its sanctions list. Its new figures were 24 people, including the chairman of the Gazprom board, Alexei Miller, businessman Oleg Deripaska, chairman of the board of directors of the Renova group of companies Viktor Vekselberg and others. Among the legal entities, Rusal, Rosoboronexport, Basic Element, En +, Renova, GAZ Group and other companies joined the sanctions list.

The list is entitled Specially Designated Nationals (SDN). Assets of individuals and legal entities on this list are subject to blocking in US jurisdiction, US citizens and companies can not conduct business with them. In addition to this, all physical persons are prohibited from entering the United States. Taking into account the CAATSA law adopted earlier in the USA, the States will monitor the operations conducted by persons on the SDN list around the world and are ready to punish their assistants from any jurisdiction.