The share of state shares in Sibur. Lapin from Sibur became MMK's Business Development Director

Putin's daughter Katerina and Kirill Shamalov

After marrying Putin's daughter Katerina, Kirill Shamalov, son of Putin's longtime accomplice Nikolai Shamalov ( ) received a significant stake in the large Russian petrochemical company Sibur, which is now valued at $ 2.85 billion.

How did state-owned Sibur become the property of Putin's cronies?

2000s petrochemical company Sibur is owned by Gazprom

2005 Gazprom transfers 75% of Sibur to Gazprombank. Gazprombank is controlled by Putin's accomplices.

2007 Gazprom hands over control of Gazprombank to Gazfond, a pension fund headed by Yuri Shamalov, brother of Kirill Shamalov. Gazprom sells the remaining 25% of Sibur to Gazfond. Yuri Shamalov becomes director of Gazprombank and Sibur.

2008 Before the castling with Medvedev, Putin concluded a whole series of deals related to the distribution of state assets to close commercial structures. Among these transactions, the most egregious scam was the sale of a controlling stake in Sibur to its own top managers. The real beneficiaries of this scam were Putin's accomplices.

In June 2008, Kirill Shamalov joined Sibur as Vice President for Administrative Business Support.

2010/11 Gazprombank and Gazfond are selling Sibur to Timchenko and Mikhelson. The deal is financed by Gazprombank.
Mikhelson received 57.2% of Sibur, Timchenko - 37.3%. five managers and former managers the company owned the remaining 5.5%. Among them was Kirill Shamalov.

2011 Sibur introduces an options program for managers. Kirill Shamalov acquires 4.3% of Sibur.

2012 Kirill Shamalov becomes Deputy Chairman of the Board of Directors of Sibur

2014 Kirill Shamalov borrowed more than $1 billion from Gazprombank and bought 17% of Sibur from Timchenko. The main owners of Sibur were: Mikhelson 50.2%, Shamalov 21.3% and Timchenko 15.3%.

On ski resort among pine forest an hour north of St. Petersburg, a wedding celebration was in full swing. No money was spared for the wedding, and all the participants took a vow of silence. The newlyweds arrived on a traditional Russian sleigh pulled by a trio of white horses, a resort employee told Reuters.

The bride was wearing a long pearl white wedding dress, the groom was in dark, said another participant in the event. The newlyweds were Katerina, Putin's youngest daughter, and Kirill Shamalov, son of Putin's longtime accomplice Nikolai Shamalov ( klikukha, one of the founders and shareholder , co-founder, accomplice in the construction of Putin's palace in Gelendzhik).

The wedding was celebrated in February 2013 in Igor, a small ski resort. the resort, nestled among pine trees with a picturesque lake at the foot of a hill, belongs to the family of Putin's longtime accomplice Yuri Kovalchuk (klikuha, co-founder, one of,), and a Cypriot offshore, whose shareholders are not disclosed.

One of those present at the wedding said that the attendants were told that the bride and groom's names were Katerina and Kirill. According to him, the guests wore white scarves adorned with the letters "K&K" embroidered with red thread. When he was shown a photograph of a woman known as Katerina Tikhonova, the source recognized her as the bride. Tikhonova is the youngest daughter of Putin.

"Guards were at every corner, they didn't let anyone in," a resort employee said. "But we knew that Kirill and Katerina, Putin's daughter, were celebrating the wedding."

At the time of the wedding, Kirill - a tall, dark-haired man with rimless glasses - was a rising star. Russian business; he was only 31 years old. His fortune began to skyrocket after marrying Putin's daughter, who is now in charge of

Over the course of 18 months, Kirill acquired a significant stake in the large Russian petrochemical company Sibur, which is now valued at $2.85 billion based on the latest share price. He left his job as a manager and set up a company to manage "his personal investments."

How could such a young man rise so high and so quickly? A study of Shamalov's career shows that in the summer of 2013, a few months after marrying Putin's daughter, Kirill began negotiations to buy Sibur shares from one of Putin's richest accomplices.

A year later, he was able to borrow more than $1 billion, according to the published financial statements of his investment company. The loan comes from a bank run by another longtime Putin accomplice, and where Shamalov's brother holds a senior position. The money was invested in Sibur with great benefit for Shamalov.

Kirill's rise in wealth sheds light on how Putin's cronies rose to leadership positions in key companies and how such opportunities are now being provided to a new generation. Like a wedding, the redistribution of wealth takes place outside the public eye.

Oppositionist Vladimir Milov, a former deputy minister of energy of the Russian Federation, said that Putin's friends acquired large assets with the help of state-linked lenders such as Gazprombank.

"It's extremely non-transparent, so it's hard to get and evaluate the details of loan agreements. They consider Gazprombank to be their pocket bank," Milov said. "They want to pass on their power and their privileges to a new generation."

BROTHERS SHAMALOV

Kirill Shamalov's father, Nikolai, co-founded with Putin and others in the 1990s dacha cooperative, known as the "Lake", located 100 kilometers north of St. Petersburg. Various members of the Lake have risen to high positions in Putin's Russia.

Nikolay Shamalov became a shareholder of a small company, which over the past 15 years has become one of the most influential. Kovalchuk, co-owner of the ski resort Igora, is the largest shareholder of Bank Rossiya.

After Russia annexed Crimea in 2014, the US imposed sanctions on Bank Rossiya, calling it personal bank Russian "elite". The European Union has imposed sanctions on Kovalchuk and Nikolai Shamalov for their close ties to Putin. The US Treasury also imposed sanctions on Kovalchuk, calling him a member of Putin's inner circle.

Nikolai Shamalov has two sons: Yuri, born in 1970, and Kirill, born in 1982. Both have prospered during the Putin years.

After graduating from the Higher Naval Engineering School and the All-Russian Academy foreign trade, Yuri Shamalov, according to his biography, worked on the committee for external relations Petersburg City Hall, which was headed by Putin.

On the eve of 2000, Putin became president. One of the companies to which he paid special attention was Gazprom, which he returned under state control. Gazprom's assets included Sibur and Gazprombank.

As Putin has consolidated power, Yuri and Kirill Shamalov have taken important positions in these and other organizations.

In August 2003, Yuri, according to his corporate biography, became president of Gazfond, a giant investment fund that controls the assets of Gazprom's pensioners. Led by Yuri, Gazfond acquired control over the banking division of Gazprom - Gazprobank. Yuriy became one of the deputy chairmen of the board of directors of the bank.

Gazfond effectively acquired a state-owned asset and turned it into a private bank controlled by people with long-standing ties to Putin.

Meanwhile, Kirill Shamalov was no less rapidly advancing on career ladder. In 2002, he was appointed General Counsel for Legal Support foreign economic activity Gazprom, according to his biography on the Sibur website. Then he was only 20 years old and he was still a student at St. Petersburg State University.

Three years later, after graduating with a law degree, Shamalov became a leading legal adviser in the legal department of Gazprombank, then a subsidiary of Gazprom. Then, in June 2008, Kirill joined Sibur as Vice President for Administrative Business Support.

Kirill's brother, Yuri Shamalov, by this time was already on the board of directors of Sibur and worked as deputy chairman of the board of directors of Gazprombank. The bank's board chairman was Alexei Miller, who worked with Putin in St. Petersburg in the 1990s. When Putin became president, he put Miller in charge of Gazprom.

In the same month that Kirill Shamalov came to Sibur, according to financial declarations, Gazfond, whose chairman was Yuri, through control in Gazprombank, became the ultimate owner of Sibur.

CONTACT WITH TYMCHENKO

The Shamalov brothers, in addition to family ties, have long-standing ties with other members of Putin's "elite," which reformatted Russia's economy in the 2000s and made personal fortunes in the process. One of these people is Gennady Timchenko ( clicker "", one of, Putin's business partner in the St. Petersburg mayor's office), who became a shareholder of Bank Rossiya together with Nikolai Shamalov.

Timchenko has known Putin for over 20 years. In the 1990s, he began trading oil from St. Petersburg, where Putin was Sobchak's deputy, and co-founded Gunvor, which has become one of the largest traders in Russian oil.

Timchenko's actions in the energy sector are directly linked to Putin. Putin has investments in Gunvor and possibly access to Gunvor funds, says .

Timchenko was an important contact for Kirill Shamalov, as the oil tycoon later became a major shareholder in Sibur.

In 2010, Gazprombank and Yuri Shamalov's Gazfond owned 95 percent of Sibur's shares. That same year, they agreed to sell Sibur to a company owned by Timchenko and one of his business partners, Leonid Mikhelson. The deal was complicated, but Gazprombank helped make it happen by lending money to Mikhelson and Timchenko to finance at least half of the purchase.

As a result, Mikhelson received 57.2 percent of Sibur, Timchenko - 37.3 percent. Five managers and former managers of the company owned the remaining 5.5 percent. Among them was Kirill Shamalov. By 2014, according to Sibur's reports, Kirill increased his stake to 4.3 percent.

GOOD LUCK KIRILL

Once Mikhelson and Timchenko gained control of Sibur, the only way for the rest of them to get a large stake in the company was to convince one of the main owners to sell some of the shares. Fortunately for Kirill Shamalov, Putin's friend Timchenko wanted to sell his shares to him.

Timchenko and Putin's son-in-law began talks in the summer of 2013, according to Kirill's interview with the Kommersant newspaper in August this year. Negotiations began a few months after Kirill celebrated his marriage to Putin's daughter.

In March 2014, Kirill stepped down from his senior position at Sibur. But he retained the shares and remained on the board of directors. Four months later, on August 1, he registered new company, OOO Yauza-12, which was wholly owned by him.

Kirill Shamalov is involved in the withdrawal from sanctions of the capital of Putin's closest accomplices. As Kommersant wrote, "the son of the co-owner Nikolay Shamalov, Kirill, who works as a deputy chairman of the board of SIBUR, decided to take own business. Together with partners, he established a company to invest in securities. According to Kommersant's sources, new structure will invest funds that fall under international sanctions co-owners of Rossiya.

The following month, Yauza-12 bought 17 percent of Sibur from Timchenko. This allowed Kirill to increase his stake in the petrochemical giant to 21.3 percent and become the second largest shareholder.

Gennady Timchenko sold a 17% stake in Sibur, Russia's largest petrochemical holding, to Kirill Shamalov. Shamalov's father Nikolay is, like Timchenko, on the European sanctions list, but Kirill Shamalov is not.

How could 32-year-old Kirill afford such a purchase? A study of Yauza-12's financial statements at the end of 2014 shows that the company borrowed 78.9 billion rubles (about $1.3 billion at the then exchange rate). The source of the money was a bank where Kirill's brother was deputy chairman of the board of directors.

The terms of the loan are unknown, but Kirill's company appears to have borrowed money cheaply. The interest paid on the loan, according to Yauza-12, amounted to 343 million rubles as of the end of 2014. It corresponds interest rate 1.3 percent since Yauza-12 bought Sibur shares, a Moscow-based credit analyst said. He added that since the date of repayment of the loan is unknown, it is unclear whether the rate differs from the market.

Shamalov services the loan with the money coming to him as dividends on Sibur shares, and now these payments are enough for him, sources close to Shamalov and close to Gazprombank said. In 2014, he was supposed to receive about 3.7 billion rubles.

To service this loan from the company's dividend flow, its conditions must be purely individual, says Pavel Mitrofanov, director of corporate ratings, managing director of the Expert RA rating agency. With a market rate (at least 10% per annum at that time, two big bankers said) and even repayment, the loan term would be unrealistically long - many decades, the expert says.

Using the raised $1.3 billion, Kirill was able to buy 17 percent of Sibur. He and his spokesman declined to specify exactly how much he paid, saying only that the price was the market price.

Three independent analysts said in October this year that Kirill's 21.3 percent of Sibur is worth at least $2 billion. This may be a conservative estimate. Chinese oil company Sinopec agreed on December 11 to pay $1.34 billion for just 10 percent of the company.

This estimate suggests that 21.3 percent of Sibur is now worth $2.85 billion.

THE CIRCLE IS COMPLETED

A secret wedding in the ski resort of Igora and the financial well-being of Kirill Shamalov shed light on how modern Russia. The Putin era has its roots in St. Petersburg, where he began his political career. His friends at the Ozero dacha cooperative, as well as aides he worked with at the St. Petersburg mayor's office, gained wealth and influence after Putin consolidated power.

Now Kirill is among the elite of billionaires close to Putin. The connections, however, are not advertised. When Kirill and Katerina Tikhonova celebrated their marriage, security was numerous and the guest list was limited to about a hundred people, people who were there at the time say.

Guests were asked to submit Cell phones in the ice palace. The organizers wanted not a single photo to leak into social media, and the participants of the celebrations were fenced off from the resort staff.

The choice of venue for the festivities also underlined the dense fabric of the circle that unites Putin, his friends from St. Petersburg and their children.

Igora is located 30 kilometers from the dacha cooperative "Lake". The resort and its surroundings land belong to companies previously or now associated with Shamalov, Kovalchuk and Timchenko.

The owner of Igora is local company Ozon Ltd. Putin's longtime friend Kovalchuk, his wife and son own 25 percent of Ozone; the remaining 75 percent is owned by a Cypriot company.

According to the resort staff, Putin is a frequent visitor to Igora, although he did not advertise his presence, staying at a nearby mansion behind a high fence. The plot with this mansion is registered to another company, which is wholly owned by the Kovalchuk family, according to the register.

Nearby are two more lots. They belong to CJSC Leader, the asset manager of Gazfond, which is headed by Kirill Shamalov's older brother Yuri.

The wedding ceremony thus reflected important aspect Putin's Russia: the rich and close-knit "elite" celebrates, shielded from the eyes of ordinary Russians. Entertainment included figure skating, a laser show and the Russian Village ethnic show, said a person who was at the wedding.

At one point, an emblem with the names of Kirill and Katerina was projected onto the snow, one of Igor's workers said:

"We're not allowed to talk about it. I could get fired - you know whose daughter this is."

SIBUR is the largest associated petroleum gas processor in Russia, annually preventing more than 70 million tons of CO2 and 7 million tons of pollutants from entering the atmosphere.

SIBUR manufactures and sells petrochemical products on the domestic and international markets in two segments:

* Olefins, polyolefins (polyethylene, polypropylene, BOPP and others)

* Plastics, elastomers and intermediate products (synthetic rubbers, polystyrene foam, PET and others).

SIBUR's production sites are located in more than 20 regions of Russia. The company sells products to consumers in the automotive industry, construction, the fuel and energy complex, and the production of goods daily demand, chemical and other industries in 80 countries of the world. The number of employees of the group is about 26,000 people.

At the end of 2018 net profit of the company decreased by 7.9% and amounted to 110.8 billion rubles. The main factor of the decline is the reflection in the same period of 2017 of the profit from the sale of Uralorgsintez JSC, while at the end of 2018, losses from exchange differences were reflected due to the depreciation of the ruble against the US dollar and the euro and the corresponding revaluation of debt obligations in foreign currency. The company's revenue under IFRS increased by 25.1% compared to 2017 and amounted to 568.6 billion rubles, the company's EBITDA increased by 25.0% and amounted to 201 billion rubles.

Since 2015, SIBUR has been building the largest modern petrochemical complex in Russia, ZapSibNeftekhim, which will more than double the production of the group's polymer products. Construction should be completed in the second quarter of 2019.

The company is registered in Tobolsk. The headquarters is located in Moscow. Full name - Public Joint-Stock Company SIBUR Holding.

Owners

Management

The chairman of the board of directors of the company is Leonid Mikhelson.

General directors of the company:

Since 2016, the position of Chairman of the Board has been introduced (Dmitry Konov has been appointed), since 2018, in addition, the position has been restored CEO(Mikhail Karisalov appointed).

The structure of the company

Basic enterprises for the provision of raw materials: Siburtyumengaz JSC (Nizhnevartovsk) and its branches Gubkinsky GPP (in Gubkinsky), Vyngapurovsky GPP (Noyabrsk), Muravlenkovsky GPP (Muravlenko), Yuzhno-Balyksky GPP (Pyt-Yakh), as well as Nizhnevartovsk GPP, Belozerny GPP (Nizhnevartovsk) and Nyagangazpererabotka (Nyagan). SIBUR's gas processing capacity is 25.4 bcm. LLC ZapSibTransgaz maintains the pipeline infrastructure, including the Purpe-Tobolsk pipeline, 1,100 km long, for the delivery of processed products from the GPP to the petrochemical site in Tobolsk. The enterprises in Tobolsk are merged into the Tobolsk industrial site, which includes: SIBUR Tobolsk LLC (formerly Tobolsk-Neftekhim LLC and Tobolsk-Polymer LLC), ZapSibNeftekhim LLC and Tobolsk CHPP.

Base polymer manufacturers: LLC RusVinyl (Kstovo, a joint venture with Solvay), LLC NPP Neftekhimiya (a joint venture with the Gazprom Neft group), LLC POLYOM (a joint venture with the Gazprom Neft group and GC Titan), LLC SIBUR-Kstovo, LLC Tomskneftekhim (Tomsk), as well as LLC BIAXPLEN (sites in Kursk, Zheleznodorozhny, Balakhna, Tomsk, Novokuibyshevsk), which produces film based on basic polymers.

Manufacturers of plastics, elastomers and organic synthesis: SIBUR-Neftekhim JSC (Dzerzhinsk, Nizhny Novgorod Region), Sibur-Khimprom JSC (Perm), POLIEF JSC (Blagoveshchensk, Bashkortostan), Sibur-PET JSC ( Tver), SIBUR Togliatti LLC, Voronezhsintezkauchuk JSC, Krasnoyarsk Synthetic Rubber Plant JSC (joint venture with Chinese Sinopec).

Activity

The main activity of SIBUR is the production of petrochemical products based on the processing of by-products of oil and gas production.

Performance indicators

The total number of employees at the enterprises of the holding is about 26 thousand people (2018).

Capital investments companies in 2018 grew by 12.0% and amounted to 151.4 billion rubles.

At the end of 2015, SIBUR ranked 7th among all the world's leading petrochemical corporations in terms of EBITDA and investment volume. SIBUR's EBITDA amounted to $2.2 billion, which is comparable to that of BASF or Sinopec ($3.4 and $3.1 billion, respectively) and more than Lanxess, Reliance, LG Chemical, Petronas. In terms of profitability (33%), SIBUR became the second, overtaking such giants as Dow Chemical, BASF, Lanxess.

The average growth rate of the company's revenue in 2005-2015. amounted to 16%. The growth rate of Russian GDP is 3%, of world petrochemical companies - 4%.

Company financial performance

Social responsibility

In 2016, SIBUR launched the Formula for Good Deeds corporate charitable program, bringing together the company's socially significant initiatives. This program was awarded the "HR Brand Award 2017" as the best social project. In 2017, support for various interregional projects was carried out in two forms: on a grant basis (130 grants were issued) and in the form of direct implementation.

Projects are supported in six main areas:

Environmental programs of SIBUR

Security water resources . Main activities in 2017 to reduce the volume and improve the quality of waste Wastewater:

• modern biological treatment facilities were built and put into operation, which made it possible to reduce the volume of wastewater disposal by 3 times and ensure compliance with the quality standards for wastewater discharge at SIBUR-PET JSC;
• developed working documentation a project for the reconstruction of the industrial wastewater treatment system at OOO Tomskneftekhim;
• the main construction and installation works of the block for biochemical treatment of industrial wastewater at JSC Sibur-Khimprom were carried out;
• the reconstruction of local treatment facilities at Krasnoyarsk SK Plant JSC was carried out, which made it possible to reduce the content of suspended solids in wastewater, reduce coagulant consumption and prevent the loss of raw materials.

Air resources protection . The main measures aimed at reducing emissions of pollutants:

• sanitary protection zones (SPZ) were established for the enterprises of SIBUR-PET JSC, Poliom LLC, RusVinyl LLC;
• design and survey work was carried out for the technical re-equipment and stabilization of the flare facilities at JSC SIBUR Togliatti;
• pontoons were installed on gasoline tanks in the raw materials shop in order to reduce emissions of petroleum products at Sibur-Kstovo LLC.

The process of negotiations with creditors regarding the terms of debt restructuring lasted more than six months and ended on September 10, 2002 with the signing of a settlement agreement. According to some reports, the decisive factor in this was the forceful pressure and subsequent arrest of the then co-owner of Sibur, Yakov Goldovsky. After the transfer of Sibur shares to Gazprom, Goldovsky was released, lived in Austria for some time, but then returned to the Russian petrochemical business (Dzerzhinsky enterprise Korund).

At the beginning of 2003, Alexander Dyukov, who previously held leadership positions in the Commercial Sea Port of St. Petersburg and the St. Petersburg Oil Terminal.

In July 2005, Sibur established JSC AKS Holding to "clear" the holding from debts in the amount of 60 billion rubles, most of which fell on the debt to the parent company, the shares of 26 petrochemical enterprises belonging to Sibur were transferred to the balance of the new legal entity . In December 2005, AKS Holding was renamed Sibur Holding.

In 2007, Gazprom sold the shares of Sibur to Gazfond as part of an exchange for energy assets owned by this structure. Both Gazprombank and Gazfond also withdrew from the Gazprom group.

On December 2, 2009, Sibur acquired a 50% stake in Biaxplen, the largest Russian manufacturer BOPP films and the largest consumer of polypropylene. autumn next year Sibur acquired and consolidated with Biaxplen polymer business Novatek - production of polymer film in the Samara region. On July 28, 2011, a 100% stake in Akrylat, the only Russian producer of acrylic acid and its esters, was purchased.

On December 23, 2010, Gazprombank announced the sale of 50% of the company to the structures of Leonid Mikhelson, co-owner and chairman of the board of the Novatek gas company. In September 2011, after receiving permission from the FAS, Michelson's structures bought more shares and his share exceeded 50%. In November 2011, Sibur Limited became a 100% shareholder of Sibur, the ultimate beneficiaries of which are the shareholders of Novatek OJSC: Leonid Mikhelson and Gennady Timchenko. The beneficiaries of the remaining 5.5% of the authorized capital of Sibur Limited were Sibur's managers Dmitry Konov, Mikhail Karisalov, Mikhail Mikhailov, as well as Alexander Dyukov, Deputy Chairman of the Board of Directors. In 2013, the main shareholders of Sibur reduced their stake in the company to 82.5%, while the share of the current and former management increased to 17.5%.

At the end of December 2011, Sibur completely parted with control over Sibur - Russian Tires, selling 75% of the shares to the company's management, and the remaining shares to partners of the company's CEO Gurinov. Also, assets in the mineral fertilizer business were sold to Uralchem ​​(Perm Minudobreniya) and the Siberian Business Union (Kemerovo Azot and Angarsk Nitrogen Fertilizer Plant). Investments from effective sale non-core assets along with operating profits were directed to polymer projects.

In 2015, the company acquired its first foreign shareholder - in December, a deal was closed for the entry of the Chinese corporation Sinopec into the capital of SIBUR as a strategic investor with a 10% share. In 2016, an agreement was signed on the sale of 10% of the shares to the Chinese Silk Road Fund

Notes

1. http://investors.sibur.com/~/media/Files/S/Sibur-IR/Financial-results/2019/SIBUR_IFRS_FY%202018_RUS.PDF/
2. Sibur. Photo | Forbes.ru(English) . www.forbes.ru Retrieved 8 August 2018.
3. SIBUR reduced its environmental impact index by 2% due to the implementation of environmental programs. and investment
4. Sibur. About company (indefinite) .
5. PJSC SIBUR Holding. [http://investors.sibur.com/~/media/Files/S/Sibur-IR/rus-press-releases/2019/IFRS_FY2018_Press%20Release_RUS.pdf (indefinite) . https://www.sibur.ru (29.02.2019).
6. The construction of ZapSibNeftekhim is in full swing - the overall progress of the project amounted to 72.3%. VIDEO (Russian). Retrieved 8 August 2018.
7. Shamalov sold a 17% stake in Sibur to Mikhelson, NEWSru.com. Retrieved 8 August 2018.
8. Management Board of CJSC SIBUR Holding (indefinite) . // sibur.ru. Date of treatment August 30, 2011. Archived from the original on February 9, 2012.
9. LPG at the crossroads (Russian), "Oil of Russia"(February 13, 2018). Retrieved 16 August 2018.
10. About SIBUR (indefinite) .
11. PJSC SIBUR Holding. (indefinite) . https://www.sibur.ru (29.02.2019).
12. PJSC SIBUR Holding. [http://investors.sibur.com/~/media/Files/S/Sibur-IR/rus-press-releases/2019/IFRS_FY2018_Press%20Release_RUS.pdf SIBUR Announces 2018 IFRS Financial and Operating Results] (indefinite) . https://www.sibur.ru (21.02.2019).
13. Speaker: Sergey Komyshan. Lecture: "Global trends and their impact on petrochemistry". (indefinite) .
14. Speaker: Sergey Komyshan. [https://www.sibur.ru/upload/iblock/cf1/cf1aa2fec733854b5f4e6124c683480e.pdf Lecture: "Global trends and their impact on petrochemistry".] (indefinite) .
15. SIBUR Announces 2013 IFRS Financial Results (indefinite) .
16. (indefinite) .
17. SIBUR Announces 2017 IFRS Financial and Operating Results (indefinite) .
18. SIBUR Announces 2018 IFRS Financial and Operating Results (indefinite) . https://www.sibur.ru (21.02.2019).
19. PJSC SIBUR Holding has published operating and financial results for 2014 in accordance with IFRS. (indefinite) .
20. SIBUR Announces 2015 IFRS Financial and Operating Results (indefinite) .
21. SIBUR Announces 2018 IFRS Financial and Operating Results (indefinite) .

A strategic partner by selling 10% of its shares to the Chinese Sinopec for $1.338 billion (estimation of the head of the FAS Igor Artemyev). Based on this deal, Michelson's entire stake in Sibur could cost $5.7 billion, and the stake transferred to four new LLCs (18.5% of Sibur) could cost $2.48 billion.

A government commission has given Sinopec permission to buy up to 20% of Sibur's shares. Whether the Chinese corporation is going to increase its stake in the company is unknown. The Sinpec press service did not respond to RBC's request.

Volga Group representative Gennady Timchenko ( owns 14.2% of Sibur ) said that the company did not receive and did not consider offers to buy part of Michelson's stake in the petrochemical holding. Representative of another largest co-owner of Sibur - Ladoga Management Kirill Shamalova (20.9%) - said that he was also not offered to increase his stake in the company. The FAS has not yet received applications for the purchase of new co-owners of Sibur (Gamma, Omega, Sigma and Prime), a representative of the department said.

Now funds are needed for another Michelson project - Yamal LNG, a subsidiary of NOVATEK. In an interview with the Russia 24 TV channel, Mikhelson said that he expects within "the next two to three months” in full “close the issue” external funding- sign loan agreements with banks. According to him, now $13 billion has been invested in the project (including $2.4 billion from the National Welfare Fund), and the total investment is estimated at $27 billion, that is, about $14 billion more is needed.

NOVATEK itself does not need loans (in 2016, the company must repay 106.6 billion rubles of debt, but credit lines for 50 billion rubles and $300 million have already been opened for it, which it has not yet used), and Yamal LNG is negotiating a project financing, and NOVATEK's management has long promised to sign a deal with banks, says Alexander Kornilov, senior analyst at Aton Investment Company. However, it is unlikely that this will require collateral from Michelson, because negotiations are underway with a consortium of banks and project finance does not imply pledges from shareholders, he stipulates. Kornilov suggests that Michelson might need the funds for personal projects.

A representative of Sberbank, one of NOVATEK's largest creditors, declined to comment. The representative of another creditor - Gazprombank - has not yet responded to RBC's request.

Last week, Mikhelson was the richest Russian for the first time, according to Forbes magazine, with a fortune of $ 14.4 billion, in the world ranking he took 60th place. Over the year, the businessman's fortune increased by $2.7 billion, largely due to the appearance of the first public assessment of Sibur after the deal with Sinopec. On this deal, the businessman could earn about $940 million - after the appearance of Sinopec, his share in the petrochemical holding decreased from 50.2% to 43.2% (his representative did not comment on this).

2016

APG processing capacity - 24 billion cubic meters per year

As of the end of 2016, APG processing capacities amounted to 24 billion cubic meters per year. The holding has 26 production sites, and the number of employees is 25 thousand people.

Investment of more than 600 million rubles in R&D

SIBUR has invested more than RUB 600 million in R&D. As part of investment project In 2017, the company does not plan to reduce investments in this area. The investment program focuses on two areas of R&D ̶ the development of new products and technologies, as well as improving operating efficiency due to changes in technological processes.

The head of SIBUR, Dmitry Konov, noted that the company is expanding its product line both by attracting ready-made solutions from the market, and through the development of their own technologies. Optimization of the "development plan" of the petrochemical and gas processing market in Russia is one of the strategic important issues for the industrial and economic growth of the country.

Development of domestic equipment and technological solutions through scientific research plays a crucial role in the framework of the program approved by the Ministry of Industry and Trade until 2030. Progress in this direction largely depends on the involvement of experts from government agencies, vertically integrated companies, as well as service, scientific and analytical organizations.

Agreement on the sale of 10% shares to the Silk Road Fund

In 2016, an agreement was signed to sell a 10% stake to the Chinese Silk Road Fund.

2015

In 2015, the company acquired its first foreign shareholder - in December, a deal was closed for the entry of the Chinese corporation Sinopec into the capital of SIBUR as a strategic investor with a share of 10%.

Revenue in the first half of 2015 amounted to $3.2 billion, EBITDA - $1.1 billion. The number of large consumers amounted to 1400. Products are supplied to 75 countries around the world.

2014

Development of existing assets. Completion of construction of new production facilities and infrastructure of global capacity: Tobolsk-Polymer, RusVinyl, the Purpe-Tobolsk product pipeline and other projects. Start of implementation the largest project in the history of Soviet and Russian petrochemistry - ZapSibNeftekhim. In 2014, a structure founded and owned by SIBUR Deputy Chairman of the Management Board Kirill Shamalov acquired a 17% stake in SIBUR, which was previously owned by Gennady Timchenko. The structure of the share capital of SIBUR as of September 5, 2014: Leonid Mikhelson - 50.2% Kirill Shamalov - 21.3% Gennady Timchenko - 15.3%, the current and former management of SIBUR (excluding the share of Kirill Shamalov) - 13.2 %.

2013

The main shareholders of SIBUR reduced their stake in the company to 82.5%, while the share of the current and former management increased to 17.5%.

2011

Sale of Sibur - Russian tires and assets in the mineral fertilizer business

At the end of December 2011, Sibur completely parted with control over Sibur - Russian Tires, selling 75% of the shares to the company's management, and the remaining shares to the partners of the company's CEO Gurinov. Assets in the mineral fertilizer business were also sold to Uralchem ​​(Perm Minudobreniya) and the Siberian Business Union (Kemerovo Azot and Angarsk Nitrogen Fertilizer Plant). Investments from the sale of non-core assets, along with operating profits, were channeled into polymer projects.

Sibur Limited is a 100% shareholder of Sibur

In November 2011, Sibur Limited became a 100% shareholder of Sibur, the ultimate beneficiaries of which are the shareholders of Novatek OJSC: Leonid Mikhelson and Gennady Timchenko. The beneficiaries of the remaining 5.5% of the authorized capital of Sibur Limited were the managers of Sibur Dmitry Konov, Mikhail Karisalov, Mikhail Mikhailov, as well as Deputy Chairman of the Board of Directors Alexander Dyukov.

In September 2011, after receiving permission from the FAS, the structures of Leonid Mikhelson bought more shares, and his share exceeded 50%.

Sale of non-core assets

SIBUR sold assets previously identified as non-core - the tire business and the mineral fertilizer business. Leonid Mikhelson (controlling shareholder), Gennady Timchenko, as well as current and former executives SIBUR Alexander Dyukov, Dmitry Konov, Mikhail Karisalov, Mikhail Mikhailov.

Purchase of 100% shares of Akrylat

On July 28, 2011, a 100% stake in Akrylat, the only Russian producer of acrylic acid and its esters, was purchased.

2010

Sale by Gazprombank of 50% of SIBUR to the structures of Leonid Mikhelson

On December 23, 2010, Gazprombank announced the sale of 50% of the company by Gazprombank to the structures of Leonid Mikhelson, co-owner and chairman of the board of the Novatek gas company.

Acquisition and consolidation of Novatek's polymer business

In the fall of 2010, Sibur acquired and consolidated with Biaxplen the polymer business of Novatek - the production of a polymer film in the Samara region.

In 2013, the main shareholders of Sibur reduced their stake in the company to 82.5%, while the share of the current and former management increased to 17.5%.

Start of a phased sale of SIBUR to Leonid Mikhelson

In 2010, a phased sale of SIBUR to entrepreneur Leonid Mikhelson began.

2009: Purchase of a 50% stake in Biaxplen

On December 2, 2009, Sibur acquired a 50% stake in Biaxplen, the largest Russian producer of BOPP film and the largest consumer of polypropylene.

2007: Sale by Gazprom of shares of SIBUR to Gazfond

Expansion and modernization of existing production facilities, optimization and efficiency increase. SIBUR shares owned by Gazprom were sold to Gazfond as part of an exchange for energy assets owned by this structure.

Within the Group, three business areas remained, united into three directorates: hydrocarbon raw materials, synthetic rubbers, as well as plastics and organic synthesis. The tire business and enterprises associated with the production of mineral fertilizers were brought into specially created holdings with greater operational independence. The implementation of the investment program until 2015 was launched, designed to ensure the company's growth.

2006: Dmitry Konov's appointment as the president of SIBUR

Alexander Dyukov was appointed head of Gazprom Neft. New head SIBUR Dmitry Konov continued the development program of SIBUR as a leader in the gas processing and petrochemical industry in Russia.

2005: Establishment of AKS Holding with subsequent renaming to SIBUR Holding

As part of the completion of the build vertical integration near legal entities in July 2005, AKS Holding was founded, to which the assets of AK SIBUR (shares in 26 petrochemical enterprises) were transferred.

In December 2005, AKS Holding was renamed SIBUR Holding. The owners of SIBUR were “and the St. Petersburg Oil Terminal.

Under his leadership, work began on a serious reorganization of the company and the formation of a long-term growth strategy, the current solvency of SIBUR was restored, and the company's debt was systematized and settled.

2002: Settlement agreement with creditors on debt restructuring

SIBUR is unable to service its financial obligations, pay interest and repay the debt. The main creditor initiated bankruptcy proceedings in March 2002. Gazprom started active work for debt restructuring. The process of negotiations with creditors regarding the terms of debt restructuring lasted more than six months and ended on September 10, 2002 with the signing of a settlement agreement.

According to some reports, the decisive factor in this was the forceful pressure and the subsequent arrest of the then co-owner of Sibur, Yakov Goldovsky. After the transfer of Sibur shares to Gazprom, Goldovsky was released.

2001

Attempt to dilute Gazprom's stake in SIBUR's management company

At the end of 2001, the company's management, headed by Yakov Goldovsky, attempted to dilute Gazprom's share in the company's authorized capital by carrying out an additional issue of ordinary shares, and earlier tried to withdraw Sibur's petrochemical assets from the legal control of the company.

Asset growth

Intensive growth of assets and building a system for managing financial and production flows. As a result, almost 60 Russian enterprises. Almost all acquisitions of that period were made at the expense of borrowed money received from Gazprom or commercial banks under the guarantee of Gazprom.

1998: Transformation

During 1998-2001, the company incorporated a significant part of Russia's petrochemical assets and became the country's largest petrochemical holding.

The transformation of SIBUR's structure into a vertically integrated gas processing and petrochemical group has begun, covering the entire production cycle- from in-depth processing of raw materials to production final products. Integration is based on industrial cooperation petrochemical enterprises of the former USSR.

In 1998, the company was privatized, Gazprom became the largest shareholder of the holding, however, the real control over production and economic activities passed to Yakov Goldovsky's Gas and Petrochemical Company.

1995: Company formation

SIBUR was registered on March 7, 1995 as the Siberian-Ural Oil and Gas Chemical Company (JSC AK SIBUR). It included the enterprises of Sibneftegazpererabotka (today - gas processing plants of SiburTyumenGas), the Perm gas processing plant (today part of Sibur-Khimprom) and the design institute NIPIgazpererabotka. 38% of the company's shares were fixed in federal ownership for three years.

Sibur Holding is the largest petrochemical holding in Russia. Full name — Public Joint Stock Company SIBUR Holding. The headquarters is located in Moscow (the company is registered in Tobolsk).

OJSC "Siberian-Ural Petrochemical Company" was established by the Decree of the Government of the Russian Federation of March 7, 1995. Initially, the company included the association "Sibneftegazopererabotka" (GPZ Western Siberia), NIPIgazpererabotka (Krasnodar) and the Perm gas processing plant.

In 1998, the company was privatized, Gazprom became the largest shareholder of the holding, but the real control over production and economic activities was transferred to the Gas and Petrochemical Company of Yakov Goldovsky. During 1998-2001, the company included a significant part of Russia's petrochemical assets and became the country's largest petrochemical holding.

At the end of 2001, the company's management, headed by Yakov Goldovsky, attempted to dilute Gazprom's share in the company's authorized capital by carrying out an additional issue of ordinary shares, and earlier tried to withdraw Sibur's petrochemical assets from the company's legal control. In response to this OAO "Gazprom" in March 2002 initiated the bankruptcy proceedings of the company.

The process of negotiations with creditors regarding the terms of debt restructuring lasted more than six months and ended on September 10, 2002 with the signing of a settlement agreement. According to some reports, the decisive factor in this was the forceful pressure and the subsequent arrest of the then co-owner of Sibur, Yakov Goldovsky (the arrest was carried out in the reception room of the chairman of the board of Gazprom, Alexei Miller). After the transfer of Sibur shares to Gazprom, Goldovsky was released, lived in Austria for some time, but then returned to the Russian petrochemical business (Dzerzhinsky enterprise Korund).

In 2002, in order to organize the centralized marketing of the products of Sibur's tire enterprises, LLC SIBUR - Russian Tires was established. During three years, from 2002 to 2005, the company systematically developed its sales and production activities and in the spring of 2005 brought to the market its first "named" products - tires under trademarks Cordiant and Tyrex. In February 2007, the company changed organizational form and acquired its current name JSC "SIBUR - Russian tires".

In July 2005, SIBUR established JSC AKS Holding (whose successor is today's SIBUR) to "clear" the holding from debts in the amount of 60 billion rubles, most of which are due to the parent company. The shares of 26 petrochemical enterprises belonging to SIBUR were transferred to the balance of this OJSC. In December 2005, AKS Holding was renamed SIBUR Holding.

In 2007, Gazprom sold the shares of Sibur to Gazfond as part of an exchange for energy assets owned by this structure. Both Gazprombank and Gazfond also withdrew from the Gazprom group.

In 2008, Sibur planned to merge SIBUR - Russian Tires with Amtel-Vredestein, but the deal did not take place due to the crisis. At the end of December 2011, Sibur completely parted with control over OAO SIBUR - Russian Tires, selling 75% of the shares to the company's management, and the remaining shares to partners of the company's CEO Gurinov.

On December 3, 2010, Gazprombank announced the sale of 50% of the company by Gazprombank to the structures of Leonid Mikhelson, co-owner and chairman of the board of the gas company Novatek.

In September 2011, after receiving permission from the FAS, Michelson's structures bought more shares and his share exceeded 50%.

At the end of 2011, SIBUR sold its assets in the mineral fertilizer business to Uralchem ​​(Minudobreniya, Perm) and Siberian Business Union (Azot, Kemerovo, and Angarsk Nitrogen Fertilizer Plant, Perm). Angarsk).

In November 2011, Sibur Limited became a 100% shareholder of Sibur, the ultimate beneficiaries of which are the shareholders of OAO Novatek: Leonid Mikhelson and Gennady Timchenko. The beneficiaries of the remaining 5.5% of the authorized capital of Sibur Limited were the managers of Sibur Dmitry Konov, Mikhail Karisalov, Mikhail Mikhailov, as well as Deputy Chairman of the Board of Directors Alexander Dyukov. In 2013, the main shareholders of Sibur reduced their stake in the company to 82.5%, while the share of the current and former management increased to 17.5%.

In 2014, a structure founded and owned by SIBUR Deputy Chairman of the Management Board Kirill Shamalov acquired a 17% stake in SIBUR, which was previously owned by Gennady Timchenko.

On December 17, 2015, a deal was closed for the acquisition of a 10% stake in Sibur by the Chinese company Sinopec, which valued the entire Russian company at $13.4 billion.

The company's revenue under IFRS in 2015 amounted to 380 billion rubles, EBITDA - 136 billion rubles. The total investment of the company in 2015 amounted to 84.4 billion rubles.