Forbes names Russia’s businessman of the year


December 26, 2017 – FRN – 

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KtovKurse – translated by Inessa Sinchougova 

The founder of Alfa Group and the largest shareholder of the Luxembourg holding LetterOne, Mikhail Fridman, was named for the second time the businessman of the year by  Forbes.

The publication estimated that the businessman invested more than $ 5 billion in foreign companies, which is a record for Russia’s businessmen.

Luxembourg’s LetterOne this year held two major transactions – it bought $ 2.3 billion of the British healthy food chain Holland & Barret and invested $ 3 billion in the fund company Pamplona Capital Management.

The fund acquired two American companies – the medical Parexel for $ 4.5 billion and one of the leaders of the American bakery market, BakeMar.

In addition, Forbes notes the positive achievements of Friedman’s assets. For example, Alfa-Bank achieved an increase in profit in accordance with international standards in annual terms, and the X5 Retail Group, which is part of Alfa Group, is catching up on the market capitalization of the Russian retailer, Magnit.

Friedman controls Alfa Group together with partners Herman Khan and Alexei Kuzmichev. The holding owns 90.1% of Alfa-Bank, 48% of X5 Retail Group, A1, Rosvodokanal.

Also, the businessmen control LetterOne Holdings (owned by the German oil and gas company Dea, a package of 56.2% of VimpelCom shares, and 13.22% of Turkcell). The stakes of Friedman are estimated at $ 14.6 billion.

Since 2013, Fridman was already on the path to becoming businessman of the year according to the Russian Forbes version. He was chosen as the main organizer of a deal selling 50% of TNK-BP’s shares to Rosneft for $ 28 billion.

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