USM Holdings

USM is a diversified holding Russian company that owns and manages assets in the field of metallurgy and mining, telecommunications, technology and the Internet. The Group's assets include industry players such as Metalloinvest, MegaFon and Baikal Mining Company. USM is a shareholder of the Mail.ru Group. The main shareholders of USM are Alisher Usmanov, Vladimir Skoch, Farhad Moshiri and Ivan Streshinsky.

Owners

At the end of April 2018, the owners of USM created a new holding company in the Russian jurisdiction - YueSeM Holding Company LLC.

According to the SPARK-Interfax system, Alisher Usmanov received 49% in the new LLC, and 30% from Vladimir Skoch (father of Usmanov's longtime partner Andrei Skoch). In addition to them, the share of the head of USM Ivan Streshinsky (3%) is also directly registered. Four more shares belong to companies from offshore jurisdictions - Cypriot Somelior Holding (8%, controlled by Farhad Moshiri), Meresol Investments (4.9%), Dalenior Investments (4.1%), as well as Prestige Properties Assets from the British Virgin Islands (1%).

Somelior and Meresol, according to the Cypriot register of companies, almost completely coincide with the list of directors. Both feature Brett Hermitage, managing director of Bridgewaters, a corporate services company. Previously, he, in particular, headed one of the structures created by the investment company DST Yuri Milner - DST Investments 5.

Aktivs

USM Holdings is a diversified international company. Its assets at the beginning of 2020 include the largest industry players, including:

• holding Metalloinvest,
• Baikal Mining Company, which has the largest copper reserves in Russia,
• MegaFon - mobile operator,
• Mail.ru Group - owner of the leading social networks of Russia, postal and game services,
• Center for the Development of Advanced Technologies (CRPT), developing a unique national system for digital labeling and tracking of goods.
• ICS Holding

History

2024

Sale of 50% of the operator of the digital marking system "Honest Sign"

On November 29, 2024, it became known that USM holding Alisher Usmanov left the capital of the operator of the Honest Sign marking system, selling his 50 percent stake. There is no information on the value of the transaction as of the specified date. Read more here.

Sale of the Empire II tower under construction in the Moscow City business center

The structure of the USM holding Alisher Usmanov and his partners, as well as the Solvers Estate company Oleg Malis, sold the project of the Empire II tower under construction in the Moscow City business center to the developer Sezar Group. The deal, which became known on October 16, 2024, also includes the acquisition of rights to build another skyscraper on the territory of the business center. Read more here.

2023

Appointment of Oksana Gorshkova as the new CEO

In mid-July 2023, it became known about the change of CEO. USM Alisher Usmanova Yerkozha Akylbek left her post, and Oksana Gorshkova, who has been working in the structures of the group since its foundation in 2012, took his place. More. here

Hit by British sanctions

In April 2023, Britain included in its sanctions list the USM holding entrepreneur Alisher Usmanov, as well as the co-owner of this company Vladimir and Varvara Skoch.

In the comments to the sanctions against USM, it is said that the holding is owned or controlled by Usmanov, "who participates in benefiting from or supporting the Russian government," and also conducts business in the sectors of the economy strategic for the Russian authorities - the mining industry and the field of digital technologies.

Entrepreneur Alisher Usmanov

USM announced its intention to challenge British sanctions, which the holding considered illegal.

We consider the UK sanctions against the USM holding and its shareholders unfair and unreasonable, the USM said in a statement.

It also notes that the founder of USM Alisher Usmanov "has not been engaged in entrepreneurial activity for a long time, owns a stake of less than 50% in the holding and does not participate in its management."

In addition to USM, several more companies and individuals associated with Usmanov fell under the new sanctions. These include Curzon Square Limited and Hanley Limited. For cooperation with the Russian billionaire, a corporate lawyer from Cyprus Christodoulos Vassiliades came under sanctions. Another brick lawyer, Demetris Ioannides, was listed for providing services to billionaire Roman Abramovich.

The Usmanov authorities of the United Kingdom were included in the sanctions lists on March 3, 2022. Prior to that, the businessman fell under the sanctions of the European Union (EU). The entrepreneur called the EU decision unreasonable.

In total, 1559 individuals and 184 legal entities are on the British sanctions list by April 12, 2023. In addition to the UK, individual sanctions against Russians and Russian organizations were also introduced by the USA EU and other countries. Moscow considers the restrictions against Russia illegitimate.^[1]

Sale of 100% of InPlat service to MegaFon by USM

MegaFon closed in January 2023 a deal to buy InPlat, a player in the mobile commerce market. As representatives of the operator told TAdviser on January 26, 2023, MegaFon acquired 100% of the company from USM structures for cash. The amount of the transaction was not disclosed. Read more here.

2022

Akylbek Erkozha Akylbekuly - the new CEO of USM

On April 7, 2022, Yerkozha Akylbek was appointed general director of the USM holding owned by Alisher Usmanov. He replaced Ivan Streshinsky, who will continue to work on the board of directors of USM, as well as on the boards of directors of Metalloinvest, MegaFon and other companies in the group, the statement said. Read more here.

Set up a company to manage gold mining assets

At the end of January 2022, it became known about the creation by the USM holding of Alisher Usmanov and partners of the USM Gold company, designed to invest in gold mining projects. Read more here.

2021

Sale of Nexign to MegaFon

At the end of December 2022, MegaFon acquired 100% Nexign. As a result of the transaction, the financial terms of which have not been officially disclosed, the purchased company will remain an independent legal entity and will retain all partners. Read more here.

Sogaz bought a 45% stake in MF Technology from USM

On December 2, 2021, the withdrawal of USM holding Alisher Usmanov from VK capital (formerly Mail.ru Group) was announced. As part of the transaction, 45% of the shares of MF Technologies, which owns a stake in VK, were sold to the Sogaz group. Read more here.

Purchase of a stake in AliExpress Russia

In August 2021, it became known about the sale of the entire share in AliExpress Russia owned by MegaFon to USM International. We are talking about 24 million ordinary shares, which correspond to 24.3% of the authorized capital and 28.8% of the vote, the telecom operator said in a statement. The financial component of the transaction was not disclosed. Read more here.

Signing of binding documents on the creation of two JVs

On February 12, 2021, MegaFon informed TAdviser that, together with Mail.ru Group, USM, Ant Group and RDIF, they signed binding documents on the creation of two joint ventures (JVs) - payment and financial. Earlier, in 2019, the parties signed non-binding documents and announced a partnership to expand access to financial services in Russia. Read more here.

2020

Purchase of ICS Holding

On April 30, 2020, USM Holdings Alisher Usmanova announced the purchase of ICS Holding. Read more here.

Allocation of 2 billion rubles to combat COVID-19 in Russia

On April 6, 2020, Alisher Usmanov's USM holding announced the allocation of 2 billion rubles to combat a new type of coronavirus in Russia. The funds are provided free of charge "for use in priority areas of the headquarters" to combat the spread of COVID-19.

USM money, among other things, will go to the purchase of protective equipment for medical workers and volunteers, their transport support, as well as material support for medical personnel and those who help in the treatment of cases. At the same time, the directions of financing can be adjusted depending on the needs of the headquarters.

Usmanov donated 2 billion rubles to Russia to fight coronavirus

In addition to financial support to the headquarters, the companies of our holding are taking the necessary measures to ensure the stable and uninterrupted operation of enterprises and protect their employees, "says USM founder Alisher Usmanov. - The actions being taken today by USM will be our contribution to the great work being done by the country's leadership, medical institutions and all the services involved to defeat the virus as soon as possible. I am sure that together we will go through these tests.

As added to the holding on April 6, 2020, in recent weeks, the efforts and money to combat the virus have been directed by enterprises and companies controlled by the holding.

In particular, Metalloinvest sends more than 100 million rubles. for the purchase of medical equipment, equipping hospitals and providing residents of the Belgorod, Kursk and Orenburg regions with personal protective equipment. Including, allocated more than 55 million rubles. for the retrofitting of medical institutions of the Belgorod region with the necessary equipment, including devices for artificial ventilation of the lungs, the company reports. Also, the funds were sent to the Starooskolsky city district to purchase medical equipment for organizing a mono-hospital, purchasing protective and disinfectants.^[2]

Owners

Among the owners of the Holding Company UESEM for January 2020:

• Usmanov Alisher Burkhanovich - 49%
• Skoch Vladimir Nikitovich - 30%
• Farhad Moshiri - 8%
• Streshinsky Ivan - 3%

2018

Transfer of Metalloinvest under Russian jurisdiction

At the end of July 2018, Holding Company UESEM became the owner of 100% in LLC UESEM Metalloinvest. This LLC, in turn, owns 100% of JSC HC Metalloinvest.

Formation of MF Technologies JV

On May 8, 2018, MegaFon announced the creation of a joint venture of MF Technologies JSC (ITF) with Gazprombank, Rostec and USM Holdings to develop digital services and implement projects in the digital economy. Under the terms of the transaction, MegaFon will contribute 11,500,100 shares of Class A Mail.ru Group to the joint company (which is 5.23% of the economic and 58.87% of the voting share in the Internet holding).

In turn, as part of the transaction, USM Holdings will acquire from 100% of MegaFon's subsidiary Lefbord Investments Ltd a 9% stake in ITF for $40.5 million. Read more here.

2017: Sale of stake in UTV holding to Ivan Tavrin

Entrepreneur Alisher Usmanov sells his stake in the UTV television holding, which manages the U, Muz-TV and Disney TV channels, and also controls 75% of the STS Media holding, his partner Ivan Tavrin, RBC reported in December 2017.

According to RBC, Tavrin buys out Usmanov's 58.29% stake in New Media Holding and thus consolidates 100% of the company's shares. In November 2017, UTV Group LLC was registered, whose sole founder was Tavrin. In early December, the Federal Antimonopoly Service received a petition from UTV Group, which was assigned the stamp "for official use."

2012: Founding of the Holding Company

The holding was founded in 2012 to consolidate various projects of Alisher Usmanov and his partners, which were the result of more than 20 years of successful work in the field of investment and business development.

Notes