Keep quiet about Deripaska: what Vladimir Olegovich is afraid of

The Moscow Post correspondent drew attention to the fact that materials concerning the disputes between two oligarchs, Vladimir Potanin and Oleg Deripaska, are massively disappearing from social networks.

The Moscow Post also wrote about this story. The two oligarchs have long had strained relations due to disagreements in the management of Norilsk Nickel. Now the situation is once again going through a round of "passion heat." Looks like it's time to remember her?

Property issues of Norilsk Nickel

Just last weekend, it became known that UC Rusal, Mr. Deripaska, filed a lawsuit against Vladimir Potanin, which accuses the majority shareholder of losing assets and making significant losses due to his actions.

What is important - if the court determines the correctness of Rusal, then he will be able to redeem his shares from Potanin.

Norilsk Nickel has recently parted ways with NordStar, an industrial construction and installation company (PSMK) and logistics operator Logistic Center.

In addition, Norilsk Nickel left the foreign mining company Nkomati, transferring a stake to its partner, African Rainbow Minerals Limited (ARM), a South African company. One gets the feeling that the entrepreneur has problems with money.

Prada, there are rumors that the owner of Interros could corny hide at least part of the above assets in the hands of people who are not like themselves. So more reliable - and Deripaska will be annoyed.

Vladimir Potanin. Photo: Vladislav Shatilo/RBC

"Kulbity" from Potanin

As for the deleted materials, it was about disputes over the payment of dividends to shareholders. This topic has become the subject of heated debate between the owners of the company.

The fact is that the board of directors, where the "Potaninsky" are "outweighed," in 2022 decided not to pay dividends, justifying everything with sanctions pressure and a drop in world metal prices. And leaving Rusal, whose share in the company is not much lower than 30%, without a significant "salary increase."

At the same time, Potanin himself did not remain on the invoice - he acquired Rosbank, which immediately became the salary bank of Norilsk Nickel. Thanks to this, the capitalization of the monetary institution increased immediately by $2 billion. Then, as a result of a series of management decisions, strict rules were established for the bank - it no longer has the right to go into loss and must transfer dividends to shareholders without fail.

The question is - what is the reason for the holiday? Just due to the very "affected by sanctions and falling prices for metals" Norilsk Nickel. "

At the same time, Deripaska from this "somersault" could get something if the purchase passed through the mining giant. But Potanin turned on a cunning scheme to acquire the asset - not directly through Norilsk Nickel, but through Potanin's charitable foundation. As they say - helped the poor and disadvantaged.

We must also understand that the Central Bank does not have a single lever of influence on the fund, which means that anything can happen behind the scenes of its financial statements.

Oleg Deripaska. Photo: https://sia.ru/?section=398&action=show_news&id=436281

Oligarch's "Tales"

Returning to the dividend issue, this year Norilsk Nickel can "please" its shareholders with a record low nine in recent years - the figure of 915 rubles per share is called, while, for example, in 2021 they paid 2544 rubles each.

And this, despite the fact that after the disaster of 2020, when tons of fuel spilled out of a tank near Norilsk, which provoked a local environmental catastrophe, Norilsk Nickel had to pay a multi-billion fine.

At the same time, including commenting on the issue of saving on dividends, Potanin repeatedly insisted that the funds are needed to modernize production. Only the disaster near Norilsk could do without casualties and stand at 10 million rubles if the old tank was changed on time. And this indicative situation is perfectly suitable for other enterprises of Norilsk Nickel. The Moscow Post previously spoke in detail about other similar stories.

So, apparently, they only talk about the notorious "modernization," and the money can actually be spent on completely different needs - Interros previously controlled Norilsk Nickel through the Cypriot holdings Bonico Holdings Co, ICFI Cyprus, Montebella Holdings and British Sorange Investment. Part of the shares was also held by HC Interros CJSC with the founder, Interros International Investments Ltd, which later changed to Olderfrey Holdings Limited, which was personally associated with Potanin.

So do these structures "leak" the saved dividends?

Potanin may be dissatisfied at the government level - after Vladimir Olegovich was chastised by President Vladimir Putin against the background of the above events in Norilsk, assets began to be taken from the oligarch a little. In April 2022, in court, the state "privatized" 11 objects of the Norilsk Railway (NRD) from Norilsk Nickel.

Vladimir Olegovich, apparently, understood the hint and went to buy banks - apparently so that in what case there was something to buy red caviar. Well, I did not fail to use these banks, as we have already said above.

Fuel spill near Norilsk. Photo: https://ria.ru/20200603/1572427543.html

All the ways are good

Returning to conflicts with Deripaska, there were even rumors that Potanin tried to buy out her stake in En + Oleg Vladimirovich from the oligarch's ex-wife Polina Yumasheva in order to get pressure on his Norilsk Nickel partner.

Potanin could "annoy" Deripaska in another way. In 2020, the US Treasury declassified some of the materials that became the basis for imposing sanctions against Oleg Deripaska. Allegedly, among these grounds is Deripaska's participation in large Russian investment projects, for example, related to the Sochi Olympics. This is classified commercial information.

According to evil tongues, it was allegedly Vladimir Potanin who could act as the very secret informant who transmitted information to OFAC (the American sanctions department) that the owner of Rusal was allegedly the asset holder of almost the political elite of the Russian Federation. At the same time, no evidence was presented to this general public.

Potanin himself did not become the object of sanctions for quite a long time, which gave rise to many gossip, including regarding the possible cooperation of the oligarch with the special services of unfriendly states.

Deripaska, against the background of all the "somersaults" from Potanin, is trying to take the "steering wheel" of the company's management to himself by any methods available to him. On the part of Rusal, they tried to "push" Yevgeny Schwartz to the board of directors, but the advantage of the "Potanin" votes in the governing body making the decision put a fat cross on these plans.

So the courts are apparently the only way for the oligarch to try to defend his right to influence Norilsk Nickel. After all, Deripaska should be interested in developing the company in order to make good profits from it. While Potanin seems to be using her for personal enrichment.

Single under the mask of a benefactor

What I would also like to note in connection with this situation is that Potanin could "annoy" not only his "sworn partner," but also the innocent employees of Norilsk Nickel, who instead of real shares of the enterprise at the suggestion of the oligarch had some "digital tokens."

And, of course, real shares, as it was stated, could flow into Potaninsky LLC Digital Assets. It is not yet clear how exactly the scheme is being implemented. But something suggests that only one person will benefit from it - and this is by no means a simple worker.

Against the background of all this, Mr. Potanin probably decided that the high court of London, which is considering the claim of Rusal, could read "all sorts of dirty tricks" about Vladimir Olegovich. And he could be afraid of an unpleasant decision for himself. After all, the result can be anything, up to the expulsion of Potanin from the post of head of the company and its beneficiary.

It is possible that it was for this reason that a massive sweep of information about the conflict between the two oligarchs began. But clean - do not clean, and the facts remain facts.

Photo: Kommersant