Cypriot shareholder companies of Avilon Group to redomicile in Russia
MOSCOW. Nov 20 (Interfax) - Avilon Group, which includes the business of one of Russia's largest car dealerships as well as several other assets in various sectors, plans to redomicile its controlling entities in Russia, the group's press service told Interfax.
This includes the Cypriot company Maxbond Ltd, which at the end of last year owned 99.99% of the shares of JSC Avilon Group. The remaining share of less than 0.01% (one share) is held by entrepreneur Karen Avagumyan. The group owns 100% of the shares in ITKit LLC, an IT integrator, 100% of Akstroy LLC, a technical customer for construction work, 80% of Solt LLC, which manages corporate fleets, 50% of Azur LLC, a Moscow restaurant of the Assunta Madre group with restaurateur Arkady Novikov, 50% of SZ Samolet-Olimp LLC, a developer involved with the Samolet group, and 40% of Rocton LLC, a wholesale and retail shopping center in Moscow with participation from Samvel Karapetyan's Tashir Fund. Previously, the group's assets included the Tula-based mushroom production enterprise Agrogreeb as well as vegetable-growing and sales enterprises - Kaluga's Agro-Invest and Moscow's TD Moye Leto, both of which were sold to private individuals.
The Central Bank of Russia published a decision on its website last week regarding the registration of a share issue for IJSC Maxbond.
"The redomiciliation of the Cypriot company Maxbond Ltd to the Kaliningrad region is being carried out to optimize its corporate structure, allowing it to better adapt to current conditions. Currently, the process of this company's redomiciliation has not been completed. As part of this process, the rights and obligations of Maxbond Ltd will be transferred to IJSC Maxbond in accordance with the procedure established by current legislation," the group's press service told Interfax when commenting on the Central Bank's statement.
Avilon Group's press service said that Maxbond Ltd is not the controlling entity of JSC Avilon AG, one of the largest Russian car dealership holdings which had revenues of around 91 billion rubles in 2023, up 22.6% from 2022. According to Auto Business Review, the group's sales last year amounted to 20,700 units, up 70%.
"JSC Avilon AG is part of the ownership structure of another holding company, which is also currently in the process of redomiciliation to Russia," the press service said.
The dealer's controlling entity, according to its reports, is the Cypriot company Avilon Holdings Ltd. This company owns the business center Avilon Plaza on Volgogradsky Prospect in Moscow.
