Businessmen Mikhail Fridman, Petr Aven, German Khan and Alexey Kuzmichev sold their shares in the investment division of the Alfa Group – A1 – to its general director Alexander Fain for 100 thousand rubles. This was reported by the Vedomosti newspaper with reference to the testimony of the co-owner of the collapsed Vneshprombank Georgy Bedzhamov before the High Court of England and Wales.

Mikhail Fridman and his partners sold shares of the A1 investment company for 100 thousand rubles


This court is where the asset recovery process takes place during a bankruptcy case. “A1” represents the interests of VPB’s bankruptcy trustee, the Deposit Insurance Agency (DIA).

According to Bedzhamov, the agreement to sell shares to Fain occurred in the spring of 2022, a week after sanctions were imposed on the businessmen. The banker claims that the amount was symbolic and that the sale was a farce. From Bedzhamov’s testimony it appears that the four businessmen continue to control “A1.”

A1 did not agree to this. In the framework of another dispute related to Bedzhamov’s bankruptcy, Fine presented evidence that the price of 100 thousand rubles was the market price. Evidence is provided that the company was in an unsatisfactory financial situation.

In 2022, A1 LLC’s net loss amounted to 992 million rubles and increased 78.7 times year on year.

“A1” told the publication that Bedzhamov’s accusation is provocative in nature and is aimed at discrediting the company. “A1’s” lawyer, Nikita Gaevoy, noted that Fain bought 100% of the shares of “A1” from a Russian company (its name is not indicated) at the market value determined by an appraiser.

According to SPARK, as of March 25, 2022, Fine is the sole owner of A1 LLC. Previously, the company was owned by LLC “UK Group A1”, whose parent company is the Luxembourg holding company A1 Investment (it is associated with Friedman and his partners).

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Anastasia Marina

Source: RB

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