Changes in the shareholding of OOO Glavstroy-Invest, which is part of the construction division of the holding "Basic Element" Oleg Deripaska, occurred on Wednesday, July 4, follows from the data of the Unified State Register of Legal Entities. The owner of 9% of the company was Yury Chechikhin. The owner of Deripaska remained the owner of 90.9% (the billionaire owns this share through the Cyprus Fenestraria Consultans Ltd and Basic Element Ltd from Jersey, the latter was included in the US sanctions list because of proximity to Deripaska). The beneficiaries are still 0.1% - two individuals.
The company "Glavstroy-invest" is 100% owned by the company "Glavstroy-SPb", which is building two residential complexes in St. Petersburg and one in the Moscow region. In total, according to the single information system of housing construction, the company now has permits for the construction of 521 thousand square meters. m of residential real estate.
In the press service of Glavstroy-SPb, RBC confirmed the change in the company's shareholder structure and declined to comment further. In the main GC Glavstroy, which includes Glavstroy-SPb, did not respond to the request of RBC.
According to the report on the issuance of bonds Glavstroy-SPb, Chechihin already in November last year was a member of the board of directors of this company. In the report (available to RBC), he was named Deputy General Director of the Center for Energy Efficiency "Inter RAO UES". RBC handed questions to Yuri Chechikhin through Inter RAO, but he did not respond to the publication at the time of publication.
Alexei Navalny calls Yury Chechikhin the husband of Zhanna Zolotova, the daughter of Viktor Zolotov, director of the Federal Service of the Russian National Guard (Rosgvardia). Yuri Chechikhin used to be more visible in the media business than in the construction business. Together with his son Victor Zolotov Roman, he produced several films, including the series "Vorotily" and the tape "Circumstances." INN co-owner of Glavstroy-Invest Yury Chechikhin coincides with the TIN owner of the producer companies, including the LLC Festivals and Cinema, which Chechihin and Zolotov owned on an equal footing.
From 2009 to 2011, Chechihin also served as general director of the newspaper Izvestia. From the construction business Chechihin has a company "Domstroy", which, in particular, repaired the rest home "Mozhaisky" for the Ministry of Defense, according to SPARK.
CEO of Colliers Int. in St. Petersburg, Andrei Kosarev, based on the cost of land and objects under construction, estimates the cost of 9% of Glavstroy-SPb at about 4 billion rubles. without taking into account the debt.
The co-owner of which projects was Yuri Chechikhin
LCD "North Valley" is being built in Vyborgsky district in the north of St. Petersburg since 2009. The total area of housing - 2.7 million square meters. Already built 2 million square meters. The project will be completed in 2021. LCD "Yuntolovo" is being built in the Primorsky district of St. Petersburg. In it by 2025 will be built 2.2 million square meters. m. While in operation 274 thousand sq. m. m. LCD "Stolichny" - a project with a total area of 890 thousand square meters. m - is under construction in the city of Zheleznodorozhny in the Moscow region, about 180 thousand sq. m. In addition, the company "Glavstroy-SPb" owns several buildings in the shopping center "Apraksin Dvor" in the center of St. Petersburg. The company had plans for the integrated development of the entire territory of this market, but the project was not implemented.
Together and apart
In 2017 under the Glavstroy brand, previously formally independent companies of the construction sector of the Basic Element - Glavmosstroy, Glavstroy-Development and Glavstroy-SPb - were merged. In addition to projects in St. Petersburg and the Moscow region, the company is building a residential complex with an area of 633 thousand square meters. m in Moscow and a complex of 70 thousand square meters. m in Yaroslavl.
Glavstroy-SPb, although it is part of Glavstroy, is positioned separately: the company has a separate website, it only lists projects in St. Petersburg that are not mentioned in the portfolio on the company's main site. But on the site of GC Glavstroy LCD LCD Stolichny, which in the Moscow region is building Glavstroy-SPb.
"Glavstroy and Glavstroy-SPb, although formally part of the same structure, are managed separately - these are parallel processes," a source close to the company's St. Petersburg division explained.
Assets of Oleg Deripaska and sanctions
The state of Oleg Deripaska Forbes estimates at $ 6.7 billion. The bulk of the billionaire's assets is consolidated into the holding "Basic Element". Its largest asset is the group of companies En +, which controls the stakes in the Russian aluminum producer Rusal and the electricity company Eurosibenergo. The company "Russian Machines" unites the engineering assets of Deripaska, including the automotive group GAZ, the aircraft building plant "Aviakor" in Samara, etc. Also, the businessman has assets in the construction, transport and other industries. In early April, 2018, the businessman and several legal entities controlled by him came under US sanctions. Rusal and En + lost $ 2.85 billion on the day of the sanctions. International traders stopped buying aluminum from Rusal, and the largest stock exchanges stopped trading with its products. At the end of April, Deripaska decided to reduce his stake in the En + group below 50%, and in May resigned from the boards of directors of En + and Rusal. In response, the US Treasury softened the sanctions, increasing the deadline for American physical and legal entities to complete deals with the sanctions companies. The complete removal of restrictions by US authorities was allowed in the event that an entrepreneur ceases to control the companies included in the list. The Russian authorities, as measures to support the entrepreneur, considered the partial nationalization of its companies, an increase in state purchases of products of sanctions enterprises, and the provision of financial assistance through state bank loans. In particular, it was reported about the plans of Promsvyazbank to provide a loan to the GAZ Group. At the end of June, it became known that all of Deripaska's companies had refused loans from this bank, since "the terms of assistance were bail-outs".
Oleg Deripaska's partners in "Glavstroy-SPb" for several years were co-owners of the company "Russian aquaculture" Maxim Vorobiev and Mikhail Kenin. They bought 25% of Glavstroy-SPb in 2009.
Vorobiev and Kenin are now developing business under the brand name "Airplane". In GC "Airplane" did not comment on when the partners were shareholders of Glavstroy-SPb. A source close to the management of Glavstroy-SPb told RBC that Vorobyov and Kenin had been shareholders of the company before the beginning of 2018, but now they have nothing to do with it.
Data from the Cyprus Trade Register confirm this version: Oleg Deripaska's Basic Element Ltd company in February 2018 consolidated 100% of Fenestraria Consultans Ltd shares, which at that time owned 90.9% of Glavstroy Invest.
From July 1, 2018, amendments to the law on the share construction of residential real estate came into effect, which tightened the requirements for developers. In particular, now all developers must open separate settlement accounts for each building permit, and banks will control how money is spent from such accounts. In a year, from July 1, 2019, the requirements will be toughened: developers will not be able to use the equity holders' funds until the end of the construction of a residential house, but they will have to switch to bank project financing.
In the new market conditions, large developers and those who can strengthen their positions will be able to work successfully, says Sergey Kamlyuk, CEO of Key Capital. "In the case of a change in the composition of shareholders of the structure of Glavstroy, we can assume that this is necessary to strengthen administrative capabilities. I do not exclude that for the further receipt of state orders, "he supposes.