How Avdolyan will receive the last asset of Magomedov
As RBC learned, A-Property, owned by the founder of the telecommunications operator Yota, Albert Avdolyan, will receive the Yakutsk Fuel and Energy Company (YATEK) controlled by Ziyavudin Magomedov for debts. This is the last major asset of a businessman who was arrested in March 2018 on charges of organizing a criminal community.
On Friday, September 13, an extraordinary meeting of YATEC shareholders will be held, the agenda of which is the approval of major related transactions and related party transactions with alienated or acquired property, the company said. Among these transactions are agreements to terminate counterclaims in the amount of not more than 8.26 billion rubles. (in particular, the company sued LLC Investor, through which Magomedov owns 82.06% of its shares, demanding about 6 billion rubles from her), about transferring a debt of no more than 7.71 billion rubles. and the assignment of A-Property in the amount of not more than 550 million rubles, is indicated in the document.
In fact, it is about collapsing the debts of the Yakut company to Avdolyan’s structure and transferring control over YATEC to it, a source close to one of the parties to the negotiations told RBC. A-Property will become the new shareholder of YATEC, a person close to the other side confirmed. Magomedov agreed to the alienation of his share, he said.
The price of the property to be disposed of under related-party transactions will total 16.82 billion rubles, or 68% of the book value of the assets of YATEC as of June 30, 2019, follows from the documents.
“A-Property” has been buying up YATEK's debts since the end of 2018 - to Sberbank (for a total of 4.4 billion rubles), for which a controlling stake was laid, VTB (5.1 billion rubles) and Russian Agricultural Bank (about 1 billion rubles), Avdolyan's acquaintance told RBC in January 2019, noting that all the requirements were purchased without discount. Since then, A-Property has bought at least the debt of the company to the Russian “daughter” Bank of China (0.9 billion rubles). This follows from the materials of the YATEC bankruptcy case, in which the Arbitration Court of Yakutia introduced a monitoring procedure for the company.