Vladimir Litvinenko transferred a 20.60% stake in PhosAgro, a phosphate-based fertilizer producer, to his wife, Tatiana Litvinenko, according to the company's website. Thus, its share decreased to 0.39%.
PJSC PhosAgro (Moscow Exchange, LSE: PHOR), a Russian vertically integrated company and one of the world's leading producers of phosphate-based fertilizers, announces that Vladimir Litvinenko has notified the company of a change in its shareholding in PhosAgro from 20.98 % to 0.39%," the report says.
In April 2021, Litvinenko entered the Forbes global list for the first time with a fortune of $1.5 billion. Litvinenko was the second largest shareholder in the fertilizer producer after the Guryev family, the main beneficiaries. Another major shareholder of PhosAgro, Igor Antoshin, owns a 4.5% stake.
In May 2019, Litvinenko increased his stake in PhosAgro to 20.98% by purchasing a 1.64% stake from Antoshin.
Vladimir Litvinenko has been the rector of St. Petersburg Mining University since 1994. In 1997, Litvinenko headed the scientific council where Vladimir Putin defended his dissertation. He repeatedly topped the rating of the richest rectors of Russia thanks to a block of shares in PhosAgro.