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Vekselberg Reduced his Share in Swiss Companies
May 16, 2018 17:23


Russian businessman Viktor Vekselberg, who fell under USA sanctions, reduced his share in Swiss companies: OC Oerlikon and Schmolz + Bickenbach. This happened after the deal with minority shareholders and managers from Renova group of companies where Viktor Vekselberg is the Chairman of the board of directors.

It is noted that in this way the entrepreneur hoped to withdraw Swiss assets of Renova from the risks of sanctions. His share in Oerlikon decreased from 43 percent to 19.9 and in Schmolz + Bickenbach - from 42 to 12.6.

Previously, Renova's minority shareholders, Evgeni Olkhovik and Vladimir Kremer, increased their share in Liwet Holding, so that Vekselberg's company could own the shares of European concerns. Thus, they indirectly received shares in Oerlikon and Schmolz + Bickenbach. In Oerlikon, they said that USA sanctions had not significantly affected the company, but some Swiss financial institutions required the clarification for the USA decision on Vekselberg.


Author: Anna Dorozhkina


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