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Abramovich Lures Oligarchs Abroad

They have nothing to do in Russia
The governor of Russia's Chukotka region, oligarch Roman Abramovich is selling off his assets and, according to Gazeta, is going to leave Russia. Now Abramovich plans to sell his 50% share in the Russian Aluminum. Earlier he sold his Sibneft oil company, adding that he would no longer be associated with the Ruspromavto holding.

If Russian Aluminum is sold then Roman Abramovich will no longer hold large assets in Russia. The share holding is valued at least $3 billion dollars. Russian Aluminum's chartered capital is listed at $800 million, while the value of the company is much higher.
 
The company's turnover is about $4 billion dollars; Russian Aluminum doesn't declare its net profit. But experts agree that the company's net profit may be any where between $1 to $1.3 billion dollars. The value of the whole of the company is not more than $6 billion dollars. So, the share holding which Abramovich is said to be going to sell may be $3 billion dollars.
 
According to Gazeta, chairman of board of the Tyumen Oil Company (TNK) Viktor Vekselberg and aluminum tycoon Oleg Deripaska may be potential clients in the deal. Oleg Deripaska also owns shares of the aluminum company that is why he has a right for preferential purchase of the share holding that may be sold by Abramovich.  

Russia's oil company Yukos, Russian analysts say, may be one of potential buyers as well. The Internet site vlasti.net reports, Yukos plans to borrow not more than $3 billion dollars at the rate of 15% for a period of about three years; otherwise, the company will issue non-interest bills of credit to the same sum (the sum is equal to the cost of Russian Aluminum shares now held by Abramovich). 
 
As is known, Yukos has already bought the Sibneft oil company from Roman Abramovich. According to the British daily Financial Times, at the first stage the company headed by Mikhail Khodorkovsky will buy 20% of Sibneft shares for $3 billion dollars; then it is to get the rest 80% of shares until the end of the year. After that, Sibneft shareholders (with the exception of Abramovich) will hold at most 29% shares of the unified company (the merger of Yukos and Sibneft).     

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