On March 31, the brothers Magomedovs, owners of the Suma Group, were arrested and sentenced to 2 months in jail. Dagestan businessmen were accused of creating a criminal community and embezzling 2.5 billion rubles from the budget. They are charged with articles for the organization of the criminal community (Part 1, Article 210), fraud (Part 4, Article 159), and embezzlement (Part 4, Article 160). This is a rather heavy bouquet of charges, because only under article 210 the term of punishment can draw for 25 years. As though confirming all seriousness of intentions, the Tver court of Moscow refused to release Magomedov on bail of 5 billion rubles in aggregate. It is also believed that the organized criminal community of the Magomedov brothers operated on the territory of the Russian Federation for 8 whole years, but ... they did not notice it. But Magomedov himself did not have literally a few hours to fly from Russia to abroad.
Public outcry from this arrest is miserable: the brothers for years led a semi-closed pirate business, gravitating toward port and logistics infrastructure, did not go into public life and even deliberately distanced themselves from the troubled Dagestan, where a large-scale sweep of the local nomenclature is now underway. If, of course, do not take the stupid bodings with the grouping of Suleiman Kerimov (who is now also under arrest, but in a more comfortable and sunny France) because of the ruined Makhachkala Sea Commercial Port. For the prevention of the most talkative of the brothers, Ziyavudin Magomedov, in an interview with the business media, he relied on his closeness to the Deputy Prime Minister of the Russian government Arkady Dvorkovich, from which licensed conspiracy experts conducted a line in the direction of the always dormant prime minister Dmitry Medvedev. The elder brother, Magomed, was in charge of relations with state agencies and special services, and therefore practically did not shine in Russian sources.
However, it is very difficult to call the Magomedovs' business perverse by the standards of the Russian Federation. They were practically not in the top hydrocarbon business (except for the tiny Yakut fuel and energy company with annual production of natural gas of 1.7 billion cubic meters). There were no Magomedovs in the second league of the raw material economy of the Russian Federation - they had no assets in ferrous and non-ferrous metallurgy, petrochemistry and production and export of mineral fertilizers. With a lot of strenuousness, the "Sum" group could be attributed somewhere in the middle of the third league. The main assets of the group were:
- 32.5% of the shares of the Fesco transport group, the main asset of which is the Far Eastern Shipping Company (DMP). Consolidated revenue of Fesco for 2016 amounted to 37 billion rubles, net profit - 1.9 billion rubles. The capitalization of the DMP in March 2018 was about 20 billion rubles, and the price of the stake in Magomedov in Fesco hardly exceeded 7-8 billion rubles, respectively. It is noteworthy that Fesco's financial position is far from normal: as of July 2017, the company's total debt was $ 885 million. In 2016, the company defaulted on Eurobonds in the amount of $ 655 million. And in 2018 and 2020, the company will have to pay back to the bondholders 547.5 million dollars.
- "Amount" owns 25.05% of the shares of the largest Russian port - Novorossiysk Commercial Sea Port (NCSP, capitalization on the Moscow stock exchange in March 2018 was about 150 billion rubles, Magomedov's share was estimated at 35-45 billion rubles). On the one hand, it is a larger, but more complex asset than falling into the financial abyss of Fesco. The total revenue of NCSP in 2016 amounted to 53 billion rubles, net profit - 42 billion rubles.
In the NCSP's share capital, the Magomedovs participate through the Cypriot offshore company Novoport Holding, which is a joint venture between Sumy and the state-owned company Transneft (Russian state structures are very willing to use offshore pads, we will open this terrible secret). Novoport Holding owns 50.1% of NCSP's shares and attempts by Magomedov to take something outside the alliance with Transneft were blocked. In February this year it became known that Dagestani businessmen agreed with Transneft to sell its stake in Novoport Holding for about 40-42 billion rubles. But judging by the latest events, the state company does not have to pay anything at all. So, NCSP can be considered an asset of "Summa" can now be very stretched.
- Fesco Group owns 25.07% of the shares of the railway transport company Transcontainer. The company's revenue in 2017 amounted to more than 65 billion rubles, net profit - 6.5 billion rubles. This is a good company, the value of its assets was estimated at 55-57 billion rubles, and the net debt was symbolic - just over 2 billion rubles. The company's capitalization at the beginning of April 2018 exceeded 68 billion rubles, so the share of Magomedov shares is estimated at about 20-25 billion rubles.
The remaining assets of Suma are much smaller. This is a package of 50% minus 1 share in the United Grain Company (revenue in 2016 is about 17 billion rubles, but the liquidity of these securities is low, because the second shareholder in the company is Rosimushchestvo). It is difficult to call this acquisition successful: Magomedov bought its shares in 2012 for 6 billion rubles (about 190 million dollars), and since then the OC demonstrates some decline in financial results. If in 2013 the company received revenue of 24 billion rubles (almost 800 million dollars), then in 2016 the turnover was only 12 billion rubles (200 million dollars). True, the net revenue of 2.2 billion rubles looks better than a loss of 650 million rubles. OZK owns 51% of the shares of the largest grain terminal in the country - the Novorossiysk combine of bread products.
Some of the problems with the package in the OZK came from the fact that the "Sum" was obligated in 2018-2019 in the course of privatization to buy back from Rosimushchestvo other shares. Their value has not yet been approved, but a number of experts estimated the whole company at 20-25 billion rubles. So, the brothers Magomedov had to find no less than 12-13 billion rubles for the redemption of the state share. The only question is where?
That is, as we see, even in their largest projects, the Magomedov brothers nowhere have a controlling shareholding and, apparently, use the equity participation of companies to place their people in key positions and control the financial flows. This is remotely similar to taking a ship on boarding pirates-parasites, which, after the initial robbery, also "remain alive". In the infrastructure projects that the other companies of the Suma Group (GlobalElectroservice, Transinzhiniring, Stroynovatsiya and Inteks) were engaged in, the same thing happened only with an amendment to a faster "survival" of financial resources. Which then were exported abroad and were formalized, for example, as a venture investment by the Caspian Venture Capital Fund's brothers. This fund has invested heavily in Uber, the Diamond Foundry jewelry manufacturer, the Peek guides and recommendations service, and the Virgin Hyperloop One (investments in the Branson project totaled more than $ 100 million). Ziyavudin Magomedov, as befits an educated Eurasian man, managed even to join the board of directors of this company.
Forbes for 2017 optimistically estimated Ziyavudin Magomedov's fortune at 1.4 billion dollars, but rather, as such, Dagestani businessman did not have assets (see above). But the financial flows were. And if you do not count a pair of annoying punctures with the relatives of Magomedovs (their first cousin, Ahmed Bilalov, who suffered from the budgets in the North Caucasus Resorts Company and who prepared the infrastructure for the Sochi 2014 Olympics, and then went to the press of their son-in-law, an authoritative businessman and State Duma deputy Umakhan Umakhanov, who broke last year on the Podolsky Electromechanical Plant that he owned), the business developed relatively well until the middle of 2017. Moreover, except for deaf complaints about the construction of the stadium in Kaliningrad, everything turned out almost successfully, and the disreputable relatives of Magomed and Ahmed Bilalov were even forgiven.
But now the investigation quite seriously declares that the "Summa" Group has been an organized criminal community since 2010. The chances for Magomedov to get out from behind the bars in this situation are not very many, but this case can hit other influential people in Russia. Which are more interesting than regular "friends of Arkady Dvorkovich."
The fact is that in 2011-2014 the general director of the "Summa" Group, who had rolled out several large transactions to acquire stakes in various companies, was Alexander Vinokurov. An active business prodigy and the son of the pope-chief Moscow pharmacist received from the Magomedovs along with bonuses for several million dollars of annual compensation. And then in 2014-2017 with the same phenomenal success he worked as head of the investment company Alfa Group A1. The reason for Vinokourov's success is simple: he is married to Ekaterina Lavrovoy, the daughter of the permanent leader of the Russian foreign policy comitrii, Sergey Lavrov.
It turns out that Mr. Vinokurov is also a participant in the Magomedov OPS? And who acquired the shares of Fesco, who bought a stake in the OZK and so on? Everywhere Alexander Vinokurov as the general director of the "Summa" group put their signatures. If the investigation is documented by these documents, and Mr. Lavrov himself will soon be out of the Russian government, will Vinokurov not immediately have to postpone his large-scale projects in northern Eurasia and emigrate to northern Yorkshire, for example? By the way, for the inhabitants of the Russian Federation this is not the worst option - in fact Alexander Vinokurov, like a number of his colleagues in the market, are dealing with the oligopoly and price cartel for some very important goods.
Recall from the spring of 2017, an energetic business genius promotes its pharmaceutical and pharmacy business under the brand "Marathon Group". The goal is to create one of the largest pharmacy chains in Russia and at the same time to stake out a significant share in Russian pharmaceuticals. Earlier this year, Vinokurov had a strategic partner - Rostekh corporation Sergei Chemezov, with whom he started pooling assets:
"Rostegh" and "Marathon Group" signed an agreement on combining pharmaceutical assets. Under the deal, Marathon Group Alexander Vinokurov and Sergei Zakharov will receive 25% plus one share of Natsimbio, and Rostek - 49% of the distributor of SIA Group. The deal is non-monetary, it provides for the exchange of assets, the Rostekh was informed.
It will include a plant in the Kurgan region for the production of medicines and products "Synthesis" (from "Natsimbio" - 32.39%), a manufacturer of vaccines "Fort" (25.01%), a project for the production of blood products in Kirov "Kirov Plasma (With Natsimbio 37.5%, the rest at Pharmstandard and Italian biopharmaceutical company Kedrion Biopharma), a joint venture with Indian Ishvan Farm Aid Ltd (49%), NIK Logistics (100%) and a Marathon Group »" SIA Group ". According to the representative of the state corporation, the list of enterprises at this stage is exhaustive. The "Marathon Group" has a stake in "Synthesis", the acquisition of 50.01% of the "Fort" is completed. How exactly the shares will be redistributed as a result of the transaction are not commented on in the Marathon Group.
The company looks very tempting and will be very sorry if, due to the tricks of some brothers, Magomedov will be covered with a copper pelvis and the pharmaceutical business of the son-in-law of Russian Foreign Minister Sergey Lavrov. If he is recognized as a member of a gang of Dagestani financial rippers.