Tycoon? Suleiman Kerimov? has sold his 36 percent stake in Russia's biggest homebuilder, PIK, further reducing his investments in the country, according to statements by the company and its financial adviser? Otkritie Financial Corp.
Based on the market value of? PIK? the stake would be worth about $515 million.
Kerimov, who recently sold his 21.75 percent holding in potash giant Uralkali, sold the stake in? PIK? to property investor? Sergei Gordeyev? and businessman Alexander Mamut, who owns a stake in precious metals miner Polymetal, the statements said.
Mamut and Gordeyev bought 16.02 percent and 19.9 percent respectively. The price of the deal was not disclosed. The holding in? PIK? was owned by Kerimov's Suleiman Kerimov Foundation.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.