By Tara Patel, Albertina Torsoli and Alexander Sazonov
Viktor Vekselberg (left) (click here) speaks with Russian President Vladimir Putin at the National Children's Sports and Health Centre in Sochi, Russia, Oct. 11, 2014.
Viktor Vekselberg (left) (click here) speaks with Russian President Vladimir Putin at the National Children's Sports and Health Centre in Sochi, Russia, Oct. 11, 2014.
Russian billionaire Viktor Vekselberg’s (click here) constellation of Swiss industrial companies got hammered by investors on Monday after the U.S. imposed sanctions on the oligarch and his Renova Group investment vehicle.
Renova owns stakes in three Switzerland-based equipment manufacturers, Sulzer AG, OC Oerlikon Corp. and Schmolz + Bickenbach AG, as well as a holding in United Co. Rusal, the giant aluminum producer owned by Oleg Deripaska, another billionaire hit by the measures. Shares in the companies tumbled even as Vekselberg, 60, took steps to lower his stake in Sulzer to below a majority in a bid to insulate the company.
The U.S. Treasury on Friday included Vekselberg and Renova on a list of oligarchs, companies and senior government officials subject to sanctions that it said were intended to punish the country for actions in Crimea, Ukraine and Syria, and for attempting to subvert Western democracies. After founding Renova in 1990 and accumulating interests in Russia’s oil, gas and aluminum industries, Vekselberg bought stakes in Oerlikon in 2006 and Sulzer the following year as part of an expansion outside his home country....
With the picture above:
St. Petersburg is very near Europe. There is a strong European influence in St. Petersburg.
January 20, 2018
By Bendon James
A man looks at jeweled egg 'Cock' created by Peter Carl Faberge at the Faberge Museum in St. Petersburg, on November 19, 2013. Russian billionaire Viktor Vekselberg opened a museum to display his glittering collection of Faberge eggs, once owned by the tsars, in the former imperial capital of Saint Petersburg.
...After International Business Times (click here) reported Tuesday that Gawker CEO and founder Nick Denton was seeking outside investment cash, Denton announced a planned partnership with Vekselberg’s investment firm Columbus Nova in the New York Times. Gawker, it turns out, plans to sell a minority stake to Columbus Nova, pending approval from Gawker’s shareholders, to finance the company's ongoing legal fight with Terry Bollea, also known as Hulk Hogan.
The Times article didn’t mention the oligarch connection, but soon the Wall Street Journal pointed out that Columbus is the U.S. investment arm of Vekselberg's oil and metal conglomerate. That makes him the latest player in the ongoing saga that is Gawker Media, and perhaps the most important after Denton himself....
Sanctions reach far deeper than just and= individual's investments. Because of the large percentages these Russian men hold in companies, the markets are effected and the company losses asset value. When asset values drops the ability to have liquidity diminishes. Liquidity is what any Wall Street stock relies on for daily expenses and incomes.
Sulzer is exposed to the sanctions because Vekselberg’s shareholding is above 50 percent, according to Baader Helvea analyst Reto Amstalden, adding that this is not the case for Oerlikon and Schmolz. Vekselberg holds a 43 percent stake in Oerlikon and 25 percent in Schmolz, according to the companies.
Michael Cohen should never have accepted such large sums of money from a Russian oligarch. It is not good practice. I take it those monies were never returned.
This is typical of Trump's need for money. Evidently, donors are never vetted because the money is the focus, not national security. All these people are known to be Putin's friends.
April 6, 2018
By Leslay Wroughton and Patricia Zengerle
Oleg Deripaska, Vladimir Bogdanov, Suleiman Kerimov, Krilli Shamalov, Viktor Vekselberg, (middle L-R) Mikjhail Fradkov, Sergi Fursenko, Alexei Dyumin, Vladimir Kolokoltsev, Konstantin Kosachev, (bottom L-R) Andrei Kostin, Alexei Miller, Nikolai Patrushev, Vladimir Ustinov, Viktor Zolotov.
Washington -The United States (click here) imposed major sanctions on Friday against 24 Russians, striking at allies of President Vladimir Putin in one of Washington’s most aggressive moves to punish Moscow for its alleged meddling in the 2016 U.S. election and other “malign activity.”...
President Trump cannot deny knowledge of these activities. He and his family participated in them.
How much is lunch with members of Donald Trump's cabinet and House and Senate leadership worth? According to the Presidential Inaugural Committee, a cool $1 million....
... the "58th Presidential Inaugural Committee Underwriter Benefits." Those perks include a luncheon with "the ladies of the first families," an "intimate dinner" with Vice President-elect Mike Pence and his wife, Karen, and a "candlelight dinner" with "special appearances" by Trump and incoming First Lady Melania Trump as well as the Pences....
As to the sanctions, Western companies that found themselves with Russian oligarches as share holders bought back as many shares as it could and reduced the explosure of the company by any office holder's dismissal. Most of the assets still remaining in The West were frozen and could not be accessed.
With the picture above:
St. Petersburg is very near Europe. There is a strong European influence in St. Petersburg.January 20, 2018
By Bendon James
A man looks at jeweled egg 'Cock' created by Peter Carl Faberge at the Faberge Museum in St. Petersburg, on November 19, 2013. Russian billionaire Viktor Vekselberg opened a museum to display his glittering collection of Faberge eggs, once owned by the tsars, in the former imperial capital of Saint Petersburg.
...After International Business Times (click here) reported Tuesday that Gawker CEO and founder Nick Denton was seeking outside investment cash, Denton announced a planned partnership with Vekselberg’s investment firm Columbus Nova in the New York Times. Gawker, it turns out, plans to sell a minority stake to Columbus Nova, pending approval from Gawker’s shareholders, to finance the company's ongoing legal fight with Terry Bollea, also known as Hulk Hogan.
The Times article didn’t mention the oligarch connection, but soon the Wall Street Journal pointed out that Columbus is the U.S. investment arm of Vekselberg's oil and metal conglomerate. That makes him the latest player in the ongoing saga that is Gawker Media, and perhaps the most important after Denton himself....
Sanctions reach far deeper than just and= individual's investments. Because of the large percentages these Russian men hold in companies, the markets are effected and the company losses asset value. When asset values drops the ability to have liquidity diminishes. Liquidity is what any Wall Street stock relies on for daily expenses and incomes.
Sulzer is exposed to the sanctions because Vekselberg’s shareholding is above 50 percent, according to Baader Helvea analyst Reto Amstalden, adding that this is not the case for Oerlikon and Schmolz. Vekselberg holds a 43 percent stake in Oerlikon and 25 percent in Schmolz, according to the companies.
“Oerlikon is neither considered a sanctioned nor a blocked party because Mr. Vekselberg’s ownership interest in Oerlikon is less than 50 percent,” the company said in a statement.
Sulzer stock fell 14 percent to 108.30 francs at 3:37 p.m. in Zurich, according to data on the Swiss exchange’s website. At this price, the transferred shares would be worth about 542 million francs ($567 million). Oerlikon shares fell 5.7 percent while Schmolz dropped 6 percent.
This is typical of Trump's need for money. Evidently, donors are never vetted because the money is the focus, not national security. All these people are known to be Putin's friends.
By Leslay Wroughton and Patricia Zengerle
Oleg Deripaska, Vladimir Bogdanov, Suleiman Kerimov, Krilli Shamalov, Viktor Vekselberg, (middle L-R) Mikjhail Fradkov, Sergi Fursenko, Alexei Dyumin, Vladimir Kolokoltsev, Konstantin Kosachev, (bottom L-R) Andrei Kostin, Alexei Miller, Nikolai Patrushev, Vladimir Ustinov, Viktor Zolotov.
Washington -The United States (click here) imposed major sanctions on Friday against 24 Russians, striking at allies of President Vladimir Putin in one of Washington’s most aggressive moves to punish Moscow for its alleged meddling in the 2016 U.S. election and other “malign activity.”...
President Trump cannot deny knowledge of these activities. He and his family participated in them.
How much is lunch with members of Donald Trump's cabinet and House and Senate leadership worth? According to the Presidential Inaugural Committee, a cool $1 million....
... the "58th Presidential Inaugural Committee Underwriter Benefits." Those perks include a luncheon with "the ladies of the first families," an "intimate dinner" with Vice President-elect Mike Pence and his wife, Karen, and a "candlelight dinner" with "special appearances" by Trump and incoming First Lady Melania Trump as well as the Pences....
As to the sanctions, Western companies that found themselves with Russian oligarches as share holders bought back as many shares as it could and reduced the explosure of the company by any office holder's dismissal. Most of the assets still remaining in The West were frozen and could not be accessed.
