"The Phantom Menace" to Deripaska

Billionaire Viktor Vekselberg offered $1 billion to Mikhail Prokhorov for 17% of the shares of "Rusal". Experts suspect that the "buyer" wants to squeeze out another owner of "Rusal", Oleg Deripaska.

At present it is known that a group of Mr Vekselberg's company is negotiating with the structures of ONEXIM Prokhorov to sell 17.02% of shares of aluminum giant-producer "Rusal".

It should be noted that 48.13% of the shares owned energy holding En +, controlled by Oleg Deripaska, the shareholders Sual Partners - 15,8%, ONEXIM Group of Mikhail Prokhorov - 17,02%, 8,75% - Glencore through Amokenga Holdings company. 10.04% is free float. 0.26% of the shares are held by the company's management, including 0.23% of shares held by the general director of the company.

In Mr. Deripaska is now a serious problem. In May this year he privek 277.6 million dollars in the "Savings Bank" and "Gazprombank" in order to push back the repayment of $ 700 million pre-export loan and get rid of debt repayment in 2016. In other words, the company took a loan to pay for the loan.

We emphasize that at the end of 2015 debt "Rusal" has reached 7.9 billion dollars. Recall that in this year, "Rusal" must return to creditors it was 1.3 billion. "Rusal" lost profits due to CNIeniya aluminum prices in the first half of 2015. The price of aluminum is based on the premium has decreased by 22%, the export of aluminum semis from China increased by 43%, the market went into a state of surplus.

"Rusal" may not itself pay off debts. In other words, the company is insolvent. Independently Derapaska too can help their company, as well as other assets become distressed.

Note also that in June this year "Glavstroy SPb" Oleg Deripaska is not able to complete two huge project "North Valley" and "Yuntolovo" until 2017. The company asks to extend the life of the project until 2020 and 2025.

"Glavstroy St. Petersburg" in 2007 acquired at the city auction "North Valley" and "Yuntolovo". On 437 hectares in Yuntolovo 1 billion of 2.2 million square meters to be built. m, 270 m, "North Valley" of 2.7 million to 7 billion rubles square. meters of housing. The leases expire in 2017 and, according to the builder, in the "North Valley" commissioned six queues total area of ​​almost 1.2 million square feet. m and in 2017 will be ready to 610 000 more square meters. m. In the LCD "Yuntolovo" ready to 119,000 square meters. m, by 2017 planiruetsI finish the second turn (100 000 sq. m). For five months of 2015 sales of housing, according to "Glavstroy St. Petersburg", decreased by 40%.

The "Glavstroy" and problems in Moscow. "Glavstroy Development" billionaire Oleg Deripaska began to sell land in Moscow. Company crisis brought it to the fact that a businessman is selling 20 plots (the approximate cost of 36 billion rubles).

Businessmen believe that the "one-two" all projects will not be limited, too big a crisis the company is located. The "Glavstroy Development" almost no real estate for sale, says CEO - large-scale projects the company has been built and sold, and the new is not launched. It is also worth noting that the funding available for developers today virtually none.

in 2014. Revenues under RAS decreased by more than twice - up to 89 million rubles. against 187.3 million rubles. at the end of 2013, net loss increased to 219 million rubles. against 209 million rubles. a year earlier.

Earlier, Deripaska emerged from general contracting business because of disagreements with the Ministry of Transport, on which the work is "Transstroi" .Gospodin Deripaskaereustupil almost half "Transstroi" his partner Egor Andreev. But independent experts believe that the billionaire simply gets rid of the problem with the company order book to take out loans on their other projects.

Also in 2014, the Moscow Arbitration Court dismissed the claim, "Port of Sochi Imereti" to Vnesheconombank, which the company requested the restructuring of the loan taken in 2009 for construction of the port. According to experts, Deripaska has lost not only a large part of his fortune, and influence.

By the way, also previously owned by Deripaska Sochi port - Imereti "sent to the Moscow Arbitration Court lawsuit against the VEB loan restructuring, issued for the construction of the cargo area of ​​seaport of Sochi", said the "Basel". The company raised 3.8 billion rubles to VEB in the spring of 2009. Port need for year-round supply of Olympic facilities under construction materials.

The loan will be extinguished due to port operations, explained in the "Basic Element" message. But this prevented the change in the structure of the nerevozok goods - increased the proportion of deliveries with the use of land transport. Anyway, the Olympics in Sochi has already ended.

Among Deripaska said that Olimpstroy not provide adequate flow of goods in force at the prohibition of other activities in the cargo port of Sochi. The company noted that during the start port construction Olimpstroy and Transport Directorate of the Olympic Games declared for cargo traffic plans for the port at 14 million. M. Of cargo, but from April 2010 to March 2013 the total turnover of the port barely exceeded 3 million. M. in addition, the reason for the lawsuit was the inability of the planned conversion of the object in the marinas.

Arbitration upheld the claim and the VEB sought jointly with the port and of "Imereti Stevedoring Company" debt on the loan in the amount of 4.6 billion rubles, and also sought subsidiarily with "Olympstroy" (another guarantor on the loan) 4.3 billion. "Basel" - is the only Olympic investor trying to recover damages from "Olimpstroya". Deripaska was not simple drugogoutput. Prior to that part of the holding company Deripaska "Transstroi" filed a lawsuit against the state corporation for compensation of 1.5 billion rubles. These costs, insist the company arose from the fact that the developers of project documentation, which the customer has performed "Olimpstroy" made mistakes.
Capital arbitration Britain put an end to the dispute Sual Partners Viktor Vekselberg and Leonard Blavatnik with En + Oleg Deripaska and Glencore the veto shareholder UC Rusal: the court ruled that each co-owner of Rusal could block decisions of the other shareholders, including on related party transactions. Interestingly, the dispute between UC Rusal Oleg Deripaska and the two minority shareholders of the company - Sual Partners (15,8%) and Glencore (8,75% through Amokenga Holdings) - started six years ago. Then Sual opposed UC Rusal deal on supply of aluminum and alumina trader Glencore. The contract is estimated at $ 47 billion. Sual considered it unfair conditions and applied to the London-based arbitration.

The business community said Vekselberg "sensed" an unstable position and Deripaska wants to squeeze him out of the main asset - "Rusal";. If Prokhorov really sell its stake, Oleg Vladimirovich will have serious problems.