Renova (group of companies)

Russian private business group, which owns and manages assets in the metallurgical, oil, mining chemical, construction industries, to power telecommunications, high-tech engineering, HOUSING AND PUBLIC UTILITIES and the financial sector Russia in and abroad (CIS countries,,, Switzerland Italy South Africa and). USA

The largest assets of Renova Group of Companies are shares in TNK-BP, UC RUSal, IES, as well as in Swiss high-tech concerns OC Oerlikon and Sulzer.

History

2022: Reduction of the share in the GC "Zyfra" from 45.2 to 32.5%

In mid-July 2022, it became known about a decrease in the share of the Renova group in the Zyfra Group of Companies from 45.2% to 32.5%. This is evidenced by the data of the SPARK-Interfax system. Read more here.

2020

Creation of the Digital Industrial Platform together with Gazprom-Neft

According to the AK&M news agency dated August 24, 2020, subsidiaries Gazprom Neft of "" and the Renova group established an LLC called Digital Industrial Platform"." According to the Unified State Register of Legal Entities, this structure was established by LLC GPN-Finance"" and LLC Zyfra""; the authorized capital of the organization is 10 thousand, rubles the main activity is development. computer software More. here

Sale of 51% of Akado to co-owner of Viacom business in the Russian Federation

On June 2, 2020, a deal was closed on the sale of AVK Investments, owned by Viktor Vekselberg, a 51 percent stake in Akado Holding JSC, owned by AVK Investments, whose sole owner is Maxim Mayorets. Read more here.

2017: Vekselberg plant begins producing solar panels for export

In April, at a joint venture of the Renova Group of Companies and the Rusnano state corporation in Chuvashia, a new line for the production of modernized solar panels will start working. This was stated in February by the head of Renova, billionaire Viktor Vekselberg, writes TASS. The annual output of the power generating capacity of the new line will be 160 megawatts.

"This will be a fundamentally new panel, which in its characteristics is much more competitive than its counterparts. This is a big prospect, we will supply these solar panels for export, "said Vekselberg. "The efficiency of new solar panels has been increased significantly. Specialists are already working in test mode. As for the market, the implementation of these solar panels, which are not yet produced, is provided for three years in advance, "said Mikhail Ignatiev, head of Chuvashia

Several billion rubles have been invested in the modernization of the joint venture Rusnano and Renova. The total investment in the plant is estimated at 40 billion. The company has been operating since 2009.

See also Solar power in Russia and the world.

2016: Return of part of the assets to the jurisdiction of Russia

In January 2016, it became known that the management company of Viktor Vekselberg (No. 4 on the Forbes list, $14.2 billion) and his partners Yevgeny Olkhovik and Vladimir Kremer - Renova Group of Companies is conducting a large-scale restructuring and returning part of the assets to Russian jurisdiction, follows from the data of SPARK-Interfax. A spokesman for Vekselberg declined to comment.

Renova LLC is 90% personally owned by Vekselberg (another 5% each belongs to Olkhovik and Kremer) and now controls 100% each in Renova Asset LLC and Renova Holding Rus LLC. The first owns Baikal Holding (producer of drinking water), Kamchatka Minerals (gold mining Kamchatka Gold), Akado Holding (Internet provider Akado), as well as Orgsintez Holding Group (chemical manufacturer Orgsintez). The second company belongs to Airport Holding LLC (Rostov Airport), Stentex LLC (biotechnological company Biosten) and the development Cortros Holding.

Renova is transferring assets to Russia as part of deoffshorization, says Vekselberg's acquaintance.

"Shareholder changes affected only those assets in which the company is a majority shareholder and which are managed. And those enterprises where Renova is a minority partner (for example, Sual Partners, owns 15.8% of UC Rusal), the changes are most likely not affected, "he says.

All assets in Russia will be focused on two structures controlled by partners, adds the source of Vedomosti. The rest of the assets - the Ural Turbine Plant, Metcombank, Rotek, etc. - will be transferred to Russian jurisdiction later, the source says. Complexity is related to the complex structure of asset ownership.

Energy "T Plus" is not listed under the control of either Renova Asset or Renova Holding Rus. According to the data for the III quarter of 2015, the company in 30.72% belonged to CJSC IES Holding and to the 7.15% "T plus invest," and the rest of the shares belonged to Cypriot companies. The representative of T Plus only said that "the management of T Plus as an asset is within the competence of shareholders."

The ownership structure of foreign assets - engineering Oerlikon, Sulzer and metallurgical Schmolz + Bickenbach, telematics company Octo Telematics, investment funds Columbus Nova and New Europe Real Estate - will remain unchanged, says a source close to Renova.

It is no longer profitable to own enterprises through offshore companies, explains Anna Voronkova, partner of the KPMG tax and legal consulting department. Earlier, when a Russian company paid a Cypriot dividend, the latter had to pay a 5% tax, then this money could go back to Russia without taxes (according to the law on double taxation). But since January 2015, the conditions have changed, the rate has grown to 15%, and the tax authorities can retrospectively collect arrears if it is proved that they left taxes in this way, Voronkova comments.

Vekselberg is not the first to return assets to Russian jurisdiction. In 2013, Mikhail Prokhorov began transferring assets (No. 10, $9.9 billion), and at the end of 2014 Alisher Usmanov changed the structure of ownership of assets (No. 3, $14.4 billion).

1990: Foundation with Vekselberg of Renova: export of raw materials

In 1990, Leonard Blavatnik, together with Viktor Vekselberg, became the founders of the Renova joint investment enterprise, which was initially engaged in the export of Russian raw materials. Blavatnik was for some time a co-owner of Renova, but sold his stake in exchange for a stake in joint assets. According to Vekselberg, Blavatnik refused to invest money in Russian assets for a long time.