Alfa Group Consortium is one of Russia's largest privately owned investment groups, with interests in oil and gas, commercial and investment banking, asset management, insurance, retail trade, telecommunications, water utilities and special situation investments. Alfa Group's portfolio of companies includes Alfa-Bank, TNK-BP, VimpelCom, X5 Retail Group, A1 Group, Alfa Capital Management, AlfaStrakhovanie Group, Rosvodokanal Group, and Morginsuisse Holdings.
The group was founded in 1989 as Alfa-Eco by Israeli-Russian businessman Mikhail Fridman, the second wealthiest man in Russia, in partnership with German Khan, Alexei Kuzmichov, Alexander Kushev, and several other partners.
Its headquarters are in Moscow. As a holding company, in the financial year ending December 2010 Alfa Group had total assets of US$59,900 million, total equity of US$21,790 million and profit for the financial year of US$2,810 million. Return on shareholders' equity were recorded at 13.4%.
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What Russian billionaires say about the fate of their capitals.
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Shareholders of Alpha Group may face claims on multi-million dollar bribe in the European Union.
The corporate recovery will affect only non-core assets of the group.
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The son-in-law of the Russian Foreign Minister Sergey Lavrov is actively involved in the seizure of foreign assets and corporate scandals.
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Forbes asked the Russian billionaires, what they were doing in relation to the new law on foreign-controlled companies.
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LetterOne has up to six months to ensure the change of ownership of assets.
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