Mikhail Prokhorov worked as a garbage for Viktor Vekselberg

A professional oligarch bought out a share of toxic Vekselberg in an IFC bank.
Origin source
The owner of the ONEXIM group Mikhail Prokhorov bought out Viktor Vekselberg's share in the bank "International Financial Club" (IFC).

The fact that Prokhorov completed the implementation of the put option to buy out 39.42% of IFC from the Cyprus company Winterlux Ltd., under the control of the chairman of the board of directors of Renova Group Viktor Vekselberg, is reported on the ONEXIM website. The put option was concluded between Prokhorov and Winterlux in August 2016 and was implemented in February 2018, and the contract was signed on March 23, the release notes.

Prior to the transaction, the joint-stock structure of the IFC (ranked 101st among Russian banks by assets) was as follows: ONEXIM owned 19.71%, personally Prokhorov - 27.74%, Winterlux Ltd - 39.42%, another 13.4% belongs to the wife of the head of "Rosteha" Sergei Chemezov Catherine Ignatieva. Thus, after the acquisition of the share of Winterlux, Prokhorov's share will be 67.16%.

In March, the FAS approved the applications of ONEKSIM and Prokhorov to acquire 100% in the IFC.

In early April, Viktor Vekselberg among other Russian businessmen and state managers came under personal US sanctions - he was added to the SDN (Specially Designated Nationals) list. Vekselberg was named among the "oligarchs" who "allows the enrichment of Vladimir Putin's regime". US citizens and US companies can not conduct business with both subanking businessmen, and with those companies where these businessmen have a controlling stake. In addition, US authorities can impose sanctions on financial institutions (banks, brokers, investment companies), which are known to promote "meaningful financial transactions" in the interest of individuals on the SDN list.

Soon after the sanctions were introduced from the Central Bank's website, the list of IFC shareholders disappeared (while it is still on the bank's website).

In recent years, ONEXIM and Mikhail Prokhorov mainly sold their assets. ONEXIM sold the development company OPIN, RBC's media holding and a stake in Uralkali (20%), withdrew from UC Rusal. In addition, Prokhorov announced the sale of 49% in the club NBA Brooklyn Nets co-founder of Internet retailer Alibaba Joseph Tsai, who will be able after four years to buy a controlling stake in the club. The exception was the purchase of Prokhorov in August 2017 24.99% of one of Russia's largest sellers of shoes - the company "Footwear of Russia."