26 Oct 2023 16:38

Putin permits Bonum Capital to conduct transactions with minority stakes in Gazprom, Lukoil, Inter RAO, Nornickel

MOSCOW. Oct 26 (Interfax) - Cypriot Bonum Capital (Cyprus) Ltd has received permission to conduct transactions with its minority stakes in Gazprom , Lukoil , MMC Norilsk Nickel , and Inter RAO .

Russian President Vladimir Putin on October 26 signed the corresponding instruction, which has been published on the official portal for disclosing regulatory acts.

In accordance with presidential decree No. 520 "On applying special economic measures in the financial and fuel and energy sectors in connection with the unfriendly actions of certain foreign states and international organizations", dated August 5, 2022, companies from "unfriendly" jurisdictions require special permission for transactions with shares of strategic Russian companies. The requirement also applies to transactions when the assets ultimately remain with the same final beneficiaries, changing only the ownership jurisdiction.

Permission applies to 24,186,128 ordinary shares of Gazprom, which is the only marked package at 0.1% of the monopoly's capital; to 10,000 ordinary shares of Norilsk Nickel (0.006%); to 1,312,900 ordinary shares of Inter RAO (0.001%); and to 30,530 ordinary shares of Lukoil (0.004%).

Bonum Capital last November was included in the U.S. sanctions list along with other companies related to the assets management of the family of Suleiman Kerimov, according to the U.S. authorities. Meanwhile, Bonum founder Murat Aliyev, previously senior manager of Kerimov's Nafta Moscow group, has vehemently denied any connection between his company and the senator. The market recalls Bonum as bidding for Bank Vozrozhdenie in 2018. The fund is also known as a minority shareholder in Segezha Group .