Save and preserve: what happened to Ziyad Manasir's construction business

In the spring of 2015, the former billionaire sold Stroygazkonsalting company. Forbes finds out why, and what does Ramzan Kadyrov's friend Ruslan Baysarov have to do with it. 
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In August 2015 hundreds of former employees "Stroygazkonsaltinga" (GTS) in the Urals and Siberia have been invited to come to Novy Urengoy. In this northern city, the unofficial capital of the Russian gas, construction company collects its shift workers and distributes them on objects. The invitation was unexpected - almost a year, as the work of "Gazprom" contracts were suspended construction equipment mothballed and shift workers themselves engaged in household chores. The fact that the former owner Ziyad SGK Manasira soured relations with the main customer and the construction of "Gazprom" had to be frozen. When the new owners - Gazprombank and fund UCP - «Stroygazkonsalting" managed to renew old and get new projects. Therefore, the urgent mobilization of shift workers was announced.

According to Forbes estimates, at the end of 2015 the company received new contracts from the "Gazprom" to 20 billion rubles - not bad compared with zero a year earlier, when the majority of the contracts went to "Stroygazmontazh" Arkady Rotenberg 75 and "Stroytransgaz" Gennady Timchenko 5. Closeryshie five years, the monopoly is necessary to build at least 6,000 km of gas pipelines, including "Power of Siberia" and "Nord Stream - 2". And three major contractor is always better than two, the source notes, close to "Gazprom".

The battle with the vultures

A few years ago, "Stroygazkonsalting" was the largest construction company in Russia. It increased its power by leaps and bounds, with admiration Forbes told the manager of one of the "daughters" of "Gazprom". The SGC was about 60 000 employees and more than 16 000 units of construction equipment. Now workers was almost three times less. "We have many challenges and difficult circumstances connected with the history of the work of previous owners," - explains a source close to one of the new owners.

Pawn business success "Stroygazkonsaltinga" - relations with "Gazprom".

It is believed that they originated through the former junior partners Manasira: Peter Polianichko - the son of a friend of one of the founders of "Gazprom" Viktor Chernomyrdin, and Olga Grigorieva - the daughter of a friend of youth Vladimiand Putin.

But the businessman was very different version of a good relationship with the gas monopoly. "We're a small business started and proved that they are ready for large-scale projects", - he explained in an interview. Anyway SGK year received billions of dollars in contracts for the construction of "Gazprom" in the year. According to Forbes estimates, from 2008 to 2012 their amount exceeded 800 billion rubles. And if the 2008 GTS revenues amounted to 154.9 billion rubles, in 2012 it grew by 2.5 times.

But in 2013 everything changed. The flow of orders for the construction of the Group fell sharply - to 35 billion rubles against 80 billion a year earlier. A large part of the orders of "Gazprom" is now getting any "Stroygazmontazh" Arkady Rotenberg and "Stroytransgaz" Gennady Timchenko. Why things have changed? That is one explanation: in 2011, the post of Deputy Chairman of the Board of "Gazprom" Alexander Ananenkov, left, with the patronage of which is also connected Manasira success. However, the businessman this version in an interview with Forbes called "nonsense."

Manasir unsuccessfully tried to turn the situation. "Ziyad came with the most timeby the parties wanted to negotiate, but to hear the answer "no." Manasir just could not believe it, "- says a source close to the company. Then, stung by the founder of SGK I took the risk - complained of "Gazprom" in the presidential commission on the fuel and energy sector, led by the head of "Rosneft" Igor Sechin. Manasir wrote that "Gazprom" delaying payments on existing contracts, so the contractor had to continue to build at the expense of working capital and loans (total cost - 150 billion rubles).

"Stroygazkonsaltinga" The owner tried to play on the difficult relationship between Sechin and the head of "Gazprom" Alexei Miller.

"It's a big chess board, and Manasir made his move," - said a source close to the gas monopolist. Stroke was fatal - the complaint only aggravated the situation. In 2014, the SGC has not won a tender of "Gazprom", which immediately affected the company's financial position. At the end of 2013 revenue SGK was 259.7 billion rubles, and a year later dropped to 140 billion rubles. At the same time computerAANII was a significant debt. According to "SPARK-Interfax", on the basis of long-term loans in 2014 SGK is 57.7 billion rubles, while short-term loans and payables - 2 billion and 69 billion rubles respectively.

Left without an influential customer, GTS has become vulnerable - were willing to receive its assets for debt or no explanation. And there was something to make money: the company owned more than 300 000 sq. m of office space in Moscow-City rail carrier "Spetsenergotrans" construction equipment. "There were people who were going to take away from Manasira company", - says the source Forbes, but does not mention their names. According to him, they believed that the owners of shares - weak people (in Manasira was about 58% SGC, top managers belonged to minority stakes -. Forbes), some of them are expected to frighten, to someone - to agree.

According to Forbes source, leave now Manasir not want to, but when I realized that this is inevitable, began to look for an opportunity to receive compensation, and "some trail" led him to Ruslan Baysarov - other handovoditelya of Chechnya, Ramzan Kadyrov.

In this case Manasir could contribute to Jordan's King Abdullah II, p and which Kadyrov and Manasira special relationship involves people close to the SGC.

Anyway, owned Baysarov Tuva Energy Industry Corporation (EPDM) announced the purchase of 30% of the SGK unimaginable $ 4.8 billion. In the summer of 2014 it became known that Baysarov plans to increase its stake to 74% in December 2013. the first amount of the transaction seemed overpriced at least an order of magnitude, and the second transaction has not been closed. Nevertheless Baysarov, who became chairman of the board of directors of SGC, frightened away from wanting Manasira business. "In fact, Baysarov served as a" roof "and made it clear to all that is so easy to overcome the company will not work", - said a source close to "Stroygazkonsalting".

When Baysarov in January 2015, SGC made another attempt to negotiate with "Gazprom". In a letter to President Alexei Miller SGK Michael Yakibchuk he wrote that the company is in a critical financial situation, due to lack of Finansirovaniya forced to stop work in the construction of "Gazprom" and send employees on unpaid leave. The company also asked to be included in the investment program of "Gazprom" for 2015 and subsequent years. Miller's letter did not respond.

In the spring of 2015 and Baysarov Manasir sold "Stroygazkonsalting" Gazprombank and UCP fund Ilya ShCherbovicha equally. In April, the parties announced the acquisition of 100% of the company. Gazprombank became the owner of GTS, relying on large contracts, "Gazprom", explains the source Forbes. The purchase price was not disclosed officially, the parties have not yet commented on the deal. Ruslan Baysarov winter in an interview in 2016 that he considered the best deal: "All that I have invested, justified itself." Ziyad Manasir selling the company, he moved to London, rarely in Moscow and refuses to talk to journalists, said a person close to the family of a businessman. And it now Baysarov connect, seems not only a business relationship.

In the spring of 2014 the eldest daughter Helen Manasira married Bulat Hunkaeva - a young man who is one of the SOURCEIkov Forbes named Baysarov distant relative, and another companion - a man of the inner circle of the Chechen businessman.

The policy of "Gazprom"

What got Gazprombank and UCP? Distressed assets, recognized representative of one of the new owners of SGK. According to the other co-owner, to the new owners formed a queue of disgruntled creditors and partners. Gazprombank, by the way, was also one of the largest creditors of SGK. In 2015, "Stroygazkonsalting" has received 496 complaints by 46.6 billion rubles, a further 39 claims of 23.4 billion won its subsidiary "Gaztehlizing". Baysarov and managers joined the company to help Manasir in its protection and business "Stroygazkonsaltinga" not particularly engaged, according to the source close to the SGC. "Manasir everywhere he went, at minus sixty regularly run on their construction projects, and managers Baysarov not even go on the projects," - said the representative of one of the "Stroygazkonsaltinga" customers.

However, the source of Forbes, close to the SGC, recognizes that in one of the buildingYelnia Baysarov projects participated personally and even some time showed interest in him. It's about the first section of the Central Ring Road (Ring Road) around Moscow, a competition for the construction of which won the GTS in spring 2014 (the tender conducted "Avtodor", the contract amount - 48.9 billion rubles). "This contract lobbied Baysarov - says Forbes said. - In a ceremony he attended, and laid the capsule. "

A year after the start of the project was handed over to a row of Aras Agalarov "Crocus International". SGK admitted that he can not fulfill their obligations under a long-term investment agreement, Forbes explained the representative of "Avtodor". According to the source, close to the SGC, it's much more complicated. "There was a whole bunch of problems - says the source. - Cause of the company were so-so, there were problems with obtaining a bank guarantee. " In addition, he said, the new owners have made it clear that the priority for the company should once again become the construction of gas pipelines, rather than road or other projects.

Now non-core (not connecteds with the construction of a gas) departments in the GTS eliminate. The policy of "Gazprom" confirmed chief personnel decision. In the summer of 2015 the company was headed by a native of "Gazprom" Stanislav Anikeev. Already in the autumn of the company began again to win tenders of "Gazprom". And in February 2016 in the GTS came Anton Ray - former co-owner of the company «Argus Pipeline Service" (now the JSC "Stroytransgaz"). Ray was the first deputy general director of SGK and oversees the production unit. He had long been familiar with Anikeyev. In addition, he belonged to JSC "Stroytransgaz" has been one of the constant contractors of "Gazprom".

While the owners manage to come to an agreement, but it is clear that "they are not from the same pod," Forbes told the source close to the company. Source of Forbes, is familiar with the new owners of the SGC, he said that UCP is not considered an investment in the former company Manasira successful. According to another interlocutor Forbes, UCP in the foreseeable future may sell its stake.