Sergei Pugachev — BrandWiki

Sergei Pugachev

native name	Сергей Пугачёв
native name lang	ru
birth name	Sergei Viktorovich Pugachev
birth date	February 4, 1963
birth place	Kostroma, Russian SFSR, Soviet Union
occupation	Businessman · politician
spouse	Galina Arkhipova (divorced)
partner	Alexandra Tolstoy (2008–2016)
children	6
website	www.pugachevsergei.com

Sergei Viktorovich Pugachev, also spelled Sergey Pugachyov (born 4 February 1963), is a Russian-born French business magnate.[1] He is a doctor of technical sciences and a member of the International Engineering Academy.

Pugachev moved to the United States in 1994. Before that, he lived primarily in France and the United Kingdom. He has major real estate development projects in the United States, France, Luxembourg, Russia and the United Kingdom.

At the start of the 2000s, Pugachev gained a reputation in the Russian mass media for allegedly having introduced Russia's new president Vladimir Putin to the governor of the Sretensky Monastery in central Moscow, Archimandrite Tikhon Shevkunov, with whom Pugachev had been in close relationship as a major sponsor of the monastery.[2]

Early life

Pugachev was born into a Russian military family. His father, Viktor Fyodorovich Pugachev (29 May 1930 – 2010), was a student in the first class of the Kiev Suvorov Military School. He was awarded Commander of the order of Red Star and held command positions in airborne troops. He was the first commander of 21st Paratrooper brigade. He retired as Deputy Chief of the department of general tactics and operational art of the Military Academy.

Business career

Pugachev was an entrepreneur in the late 1980s. On 26 May 1986, he was sentenced to three years' imprisonment for fraud with confiscation of property and compulsory labor. He served his sentence at the construction sites of the Yaroslavl region.[9][10] Between 1983 and 1991, Pugachev did not work in the Krasnogvardeysky branch of the Construction Bank of the USSR,[11] as stated in his employment record book, since at the time he was imprisoned in Kresty Prison.

Pugachev borrowed 5500 roubles from his colleague Egorov, promising to buy a new car. According to Pugachev, his father had the opportunity to buy the car. Egorov saw neither the car, nor the money. The day after the sentence was pronounced, Egorov was attacked by unidentified persons.[12]

In 1991, Pugachev established one of the first cooperative banks in the USSR, the Northern Commercial Bank. In 1993, he sold his share. In 1992, he and Sergey Veremeenko organised the International Industrial Bank. At the end of the 1990s, he acquired Yenisei Industrial Company, holding an exploration licence for the region of the Ulug-Khemsky District in Southern Siberia. In the process of exploration and experimental production, the largest coking coal deposit in the world was developed. In 2000, Yenisei obtained a licence for exploration and production of coal at the Elegest deposit.[13] The investment commission of the Russian Federation financed infrastructure for this project in the amount of 1.5 billion dollars, a record investment in the development of a private company.[14]

At the end of the 1990s, he invested in the largest shipbuilding complex in Europe at the St. Petersburg shipbuilding base of Baltiyskiy Zavod and Severnaya Verf and in 60 engineering companies.

At the start of the 2000s, he consolidated under the management of the United Industrial Corporation. According to independent estimates for 2008–2010, the total value was more than US$12 billion.

In 2004, his company signed an investment agreement for an ambitious project for reconstruction and development of the Middle Trading Rows in Red Square.

From 2010 to 2014, Pugachev's Russian assets were successively expropriated, after which he was subject to political persecution. In 2011, at his request, criminal proceedings were instituted in France concerning extortion and threats from the senior staff of DIA. In 2012, he notified Russian authorities about the preparation of the claim in the International tribunal in The Hague. In December 2013, the Russian government filed a claim about Pugachev's accountability for subsidiary responsibility in the Moscow Court of Arbitration.

Criminal proceedings

In 2013, criminal proceedings were again instituted against him in the Russian Federation.

In June 2014, the Russian Federation appealed in the London High Court concerning interim measures in support of a subsidiary civil suit in the Moscow arbitration court.[15]

On 11 July 2014, Mr. Justice Henderson froze Pugachev's assets on English territory and forced him to disclose his private assets, owned directly or indirectly, in support of the claim concerning subsidiary responsibility, as requested by the Russian government. According to UK law enforcement bodies, the Russian government illegally surveilled Pugachev and his family in England via private detectives.[16] At the end of 2014, the Russian Interpol bureau announced that Pugachev was wanted.[17]

2015

On 2 March 2015, Mr Justice Peter Smith prohibited Pugachev from travelling outside England and Wales

Political career

At the start of the 1990s, Pugachev became an adviser to Russian leaders. He was acquainted with Viktor Chernomyrdin, Oleg Soskovets, Alexander Korzhakov, Andrey Vavilov, Valentin Yumashev, Alexander Livshits and Viktor Gerashchenko. He became a member of the inner circle of Boris Yeltsin and was one of the leaders of his campaign staff in 1996. American director Roger Spottiswoode made a film based on these events in 2003, Spinning Boris. The character based on Pugachev was played by Gregory Hlady.

In 1995, a scandal broke out concerning the IIB established by Pugachev, which had issued Eurocards for Yeltsin and members of his family.[26]

In December 1995, he was a candidate for deputy of the Duma on the Federal list of the electoral union of the Party of Russian Unity and Accord with approval of Sergey Shakhray.

According to Pugachev, his connections with America played a crucial role in Yeltsin's 1996 re-election, which was opposed by the communists. Pugachev engaged a team of American political consultants and PR managers headed by George Gorton.[27][28] He ran Yeltsin's re-election campaign during what Pugachev calls "Russia's last free election".[29] In June 1996, Yeltsin awarded him a Commendation, "For a major contribution to the development of Russian democracy, participation in preparation and carrying out of a campaign for the national elections of the President of the Russian Federation in 1996".

In October 1998, Mikhail Zadornov included Pugachev in the Russian delegation to the annual session of the IMF and the World Bank. Pugachev was represented as leader of a "successful" and "working" bank. Pugachev presented a memorandum about the recovery of the Russian banking system.

In the 1990s, Pugachev suggested making Putin the successor to the Yeltsin family.[30] The Financial Times claimed that Pugachev was not only a friend of Tatyana Dyachenko and her husband Valentin Yumashev, who at that time headed Yeltsin's administration, but also Pugachev and his family is a close friend to Vladimir Putin and Putin's family.[27] Pugachev stated that he, Yeltsin's daughter Tatiana Dyachenko and her future husband, Valentin Yumashev, were part of a tiny group that decided upon Vladimir Putin as the successor to Yeltsin which Pugachev stated was a "tragedy for Russia".[29] He helped Putin to climb the ladder of power, presenting him to Yeltsin. In 1999 and 2000, he was one of Putin's campaign staff leaders.[27][28] Pugachev said that Putin only wanted to be in power 3 or 4 years and said, "Putin wanted to get rich, too. He was a pragmatic person. We talked about this. He didn't want to leave office poor."[29]

In November 2000, he was elected to the board of Russian Union of Industrialists and Entrepreneurs (RSPP). From November 2000 to January 2003, he was vice president of the RSPP.

He became a member of the Franco-Russian government commission. On 24 December 2001, he was elected Senator of the Russian Federation.[31]

On 26 December 2001, he was approved as the representative of the Tuvan government in the Federation Council of the Russian Federation. His candidacy was supported by 80% of Tuvan deputies. Pugachev served until 4 January 2011.

He was the initiator of the acquisition by the Russian Federation of a licence for production of the French Mistral helicopter carrier.

After a detailed inspection by the French Ministry of Defence, Pugachev's Baltiyskiy Zavod, part of the Pugachev-controlled United Industrial Corporation (OPK) was selected to construct Mistral-class helicopter carriers for use in the Russian Navy,[32] The agreement was signed on 25 January 2011.[33]

However, on 4 January 2011, under pressure from Putin, Pugachev was forced to resign as a senator, ostensibly because of his having obtained French citizenship.

Investment

In 1991, Pugachev established one of the first cooperative banks in the USSR, the Northern Commercial Bank. In 1993, he sold his share. In 1992, he and Sergey Veremeenko founded JSC "International Industrial Bank" (Pugachev owned 25%), which was one of the first to licensed to perform foreign exchange operations.[34]

IIB was originally formed as a "venture investment fund". The bank sought out troubled long-term assets. It invested in them and then resold them. The bank became one of Russia's 10 largest banks and was the largest credit institution in terms of capital (175 billion rubles). It became a principal member of Visa International and MasterCard Worldwide, operating its own processing centre. In December 1998, the IIB increased its authorised capital to 10 billion rubles. A year later, shareholders invested another 15 billion rubles, raising its authorised capital to 25 billion rubles, just under $1 billion. Most other credit organisations rarely reached that level. The IIB almost caught up with Sberbank on the scale of its own funds and became the country's largest private bank. In January 2002, Pugachev resigned from IIB's board of directors. After the election, Pugachev held from 0–5 percent of assets).[35] According to the Jones Day report, from 2002 the owner of the bank was D. Henderson-Stewart.

In 2003, it was reported that Pugachev's income was averaging more than 7 million rubles. According to data released in 2010, he earned 3 billion rubles, significantly more than other Russian Senators.[36] As a senator, Pugachev transferred his assets to the control of the JSC United Industrial Corporation. Under OPK control, assets were held in various sectors of the Russian economy. Their value amounted to more than US$15 billion.[37]

Pugachev singled out the development of 1160 hectares of land on Rublevky, 70 hectares on Vasilevsky Island in St. Petersburg, the project "Red Square, 5" for construction of hotels and apartments, construction of a hotel in Sochi for the 2014 Olympics, the company Russia Coal, the oil companies Aki-Atyr and the "White Nights", and also the "Yenisei Industrial Company" (EPC), which owned the licence for development of the coal deposit in Tuva, the shipbuilding businesses Severnaya Verf, Baltiyskiy Zavod, the Central Design Bureau "Iceberg" and others.

Expropriations

After he left the Senate, the Government began confiscating Pugachev's various properties.

Shipbuilding

At the end of the 1990s, Pugachev started to acquire shares in shipbuilding and engineering businesses in St. Petersburg, including Severnaya Verf Shipbuilding plant JSC, the Baltiyskiy Zavod JSC and the Iceberg Central Design Bureau. Pugachev was a major shareholder in Baltiyskiy Zavod. Baltiyskiy Zavod was part of the Pugachev-controlled United Industrial Corporation (OPK). Pugachev transferred the main capacity to the Severnaya Verf site and started implementation of the largest development project in St. Petersburg with development of 70 hectares in the centre of the city on Vasilevsky Island.

Baltiyskiy Zavod and Severnaya Verf built 9 Corvettes, 5 Frigates, 8 Supply Ships and "the largest icebreaker in the world". Pugachev invented and began construction of the first floating nuclear power plant (PATES).[38]

Baltiyskiy Zavod built the Mistral-class ships, with the value of the deal amounting to 1.5 billion euros.[39] After a 35-year hiatus, construction was resumed on a series of diesel-electric icebreakers—"St. Petersburg" and "Moscow" and nuclear-powered icebreaker "50 years of Victory".[40][41][42][43]

The complex produced more than 70% of the surface combat ships for the Russian fleet built during that time. One of its projects was the construction of the "Russia" yachts for President Putin.[44] In 2008, the Russian Federation Federal Service for Defence Orders made the plant the sole supplier of ships in the classes of "corvette", "frigate" and "Comms Boat".

In civil shipbuilding, orders were made for vessels for oil platform supply. Between 2006 and 2009, the shipyards built 2 saturated ship hulls for project VS 470 PSV for Norwegian company Skipper II AS and highly saturated ship hulls for supply off offshore oil platforms of project VS 485 PSV for Norwegian Solvic Hull Supplies AS.[45]

In 2005, Pugachev entities acquired a controlling share in Baltiyskiy Zavod.[46]

In September 2008, the JSC "Baltiyskiy Zavod" completed tests of uninhabited deep-water equipment. The unique underwater vessel built for a customer in Russia, was capable of diving to depths of up to 10 km. The ship is intended for research purposes.[40]

In November 2008, the Baltiyskiy Zavod JSC concluded an agreement with the "Atomenergoprom" JSC for production of two sets of devices for detection of core melt, intended for the first and second blocks forming the Leningrad Nuclear Power Plant (LAES-2).[47]

In December 2008, the country's first domestic diesel-electric icebreaker—Moscow—was transferred to FGUP "Rosmorport".[48]

In February 2009, a contract was signed with Concern Energoatom JSC, which involved construction at Baltiyskiy Zavod, launching, completion, testing and transfer into operation of the lead floating power unit of project 20870, the world's first low-capacity nuclear power plant. In June 2010, the lead power unit was launched.[49] In 2009, Baltiyskiy Zavod cast 42 bells with a mass from 10 kg to 5.5 tonnes.[50]

In 2009, the boat "Serafim Sarovsky" was built, as a continuation of the series of communications boats. Construction engaged the C3 JSC Severnaya Verf from 2001. The lead boat "Buverestnik" served as part of LenVMB. The boat "Albatross" was transferred to the hydrographic service of the Caspian flotilla. The "KSV-57" was part of the group of boats for provision of the Northern fleet. In 2009, work was started on the frigate "Fleet Admiral Kasatonov" for project 22350. In spring of 2010, Severnaya Verf launched the first of a series of Corvettes of project 20380 "Soobrazitelniy".[51]

In 2010, the shipyard produced new masts for British military cruiser "HMS Belfast", which participated in delivery of goods to the USSR during the Second World War and performed a thorough reconstruction of the ship. The repair was implemented with Pugachev's personal funds, a budget amounting to 3 million pounds. The Belfast is owned personally by the Queen, whose nephew, David Linley, was Pugachev's business partner.

In October 2010, the lead frigate whose construction started in 2006 for project 22350 "Soviet Union Fleet-Admiral Gorshkov" was launched. This is the first of a series of similar ships to be put into service of the navy after the collapse of the USSR.[52]

In November 2010, Baltiyskiy Zavod signed a contract for construction of four tankers. In April 2011, at Severnaya Verf, the third of the "Boikiy" Corvettes was launched, as part of the series of Russian Corvettes of project 20380.[53]

In September 2011, at Baltiyskiy Zavod, the lead ship of the series of four self-propelled oil tankers was launched, for project 2734, constructed for the "Baltic Fuel Company" (BTK).

Pugachev invested significant resources in the acquisition of additional participation in Severnaya Verf, Baltiyskiy Zavod and acquired the "Iceberg" design bureau, engaged in the design of ships for construction in shipyards. Pugachev then owned 75.82% of Severnaya Verf, 88.32% in Baltiyskiy Zavod and 64.82% in the "Iceberg" Design Bureau.[54]

Pugachev's shipbuilding companies became the largest surface shipbuilding centre in Europe. Russian authorities expropriate the shipyard. In 2007, the Russian government created United Shipbuilding Corporation (OSK) to consolidate its equity participation in the shipyards. OSK is 100% owned by the state.[55]

In November 2009, Putin invited Pugachev for a personal meeting. During the meeting, Putin told him that the RF wished to acquire Pugachev's share in the shipyards. He made it clear that Pugachev should agree to the sale. Minister for Finance and Deputy Prime Minister Alexei Kudrin made a proposal to allocate US$5 billion for this deal.[56]

At this time, parts of the shipyards were restructured. Part of the restructuring strategy was to move certain production units of Baltiyskiy Zavod to Severnaya Verf and redevelopment of the unused space at the shipyard as a residential and shopping complex by OPK-Development. T shipyards received a loan of about 500 million US dollars from VTB. After a meeting with Putin, Pugachev understood that the restructuring would have to be interrupted.

At OSK's request, the Russian Ministry of Industry and Trade prepared a report on the shipyards. It concluded that the acquisition of these assets was appropriate.

The government developed a plan for acquisition by the RF of the shipyard shares. A key figure in this process was Deputy Prime Minister Igor Sechin, known to many as the organiser of Yukos' destruction. In May 2008, in an interview, in The Sunday Times, Mikhail Khodorkovsky accused "former KGB officer" Sechin of organising both the first and second criminal cases against him: the first for "greed" and the second for "cowardice". Former Yukos leaders were confident that, mainly under Sechin's authority in June 2003, an ideological justification was produced for the Yukos affair – in response to the supposed seizure of state power by the Khodorkovsky group.

The Russian government was not interested in whether the sale had a transparent structure, which would entail financing the acquisition with funds from the Federal budget, which would require approval by the Russian Parliament. Russian government officials discussed several acquisition options – through the RF budget (Federal property agency Rosmuschestvo), or VEB (state corporation Vneshekonombank).

In the end Putin, in agreement with Medvedev, instructed Central Bank head Ignatiev to acquire shares in Pugachev's shipbuilding assets, with first Kudrin specified as curator. From the correspondence between Ulyukaev and the Government, it appears that the Sechin was actually curator, who attempted to put pressure on the Central Bank with the aim of ensuring that the assets would be under-valued.

According to the estimate by international auditing company BDO, the value of the share in the shipyards amounted to 101.36 billion Russian rubles (3.5 billion US dollars). The estimate was produced under pressure. The Government's assessment of contracts for future periods was not included.[57]

BDO estimated these assets at $3.5 billion, while Nomura investment bank valued them at up to 4.2 billion rubles. In 2011, a meeting with Deputy Prime Minister of the Russian Federation Dmitry Kozak, which led Kozak to instruct the parties to work out proposals for a settlement agreement between the RF Central Bank and Pugachev and to reach an agreement by 13 October 2011. The Central Bank issued a mandate to Nomura to negotiate a settlement agreement. Nomura's source reported that the Central Bank used them as a cover to expropriate the assets. According to information from Central Bank Vice-president Shevtsov, at the time of the expropriation the head of Nomura visited the Kremlin and met with President Medvedev regarding the issue of the placement of Central Bank foreign reserves with Nomura.[58]

At the start of 2011, the President expressed his impatience regarding the completion of the transfer of the shipyards, blaming Pugachev for the failure to transfer ownership and threatened to intervene, if Pugachev's holding company, OPK, did not show "good sense".[59] Under increasing pressure from President Putin, the Central Bank applied to the Moscow arbitration court for transfer of the shipyards into a trust. The court delivered an unprecedented decision allowing the transfer of the shares into Central Bank trust management without the owner's consent.[60]

On 6 October 2011, Sechin's successor Vladimir Lisin was appointed chairman of OSK's board of directors.[61] According to media information, Pugachev traveled to London to discuss the shipyards with Lesin, but the meeting never took place. Trade in expropriated assets was closed to the public (in violation of the legislation).

RF Rosimuschestvo concluded an agreement on organisation of trade with sale of shipbuilding assets to "Camelot" LLC. According to the Federal Tax Service of the Russian Federation, "Camelot" LLC is registered at a mass registration address in Ivanov. The managing company and sole owner of "Camelot" LLC was LLC "Management and Business", the directors and the sole holder of the LLC "Management and Business" was Oleg Viktorovich Borobyev, who was head of 390 other Russian companies. In May 2013, "Camelot" LLC made the decision on accession to the Krug LLC and on 17 September 2013 joined this company. On 30 October 2013, Krug LLC liquidated. On 18 March 2014, the court found Krug LLC bankrupt. On 23 September 2014, Krug LLC was liquidated. "Camelot" LLC released its shipbuilding company assets to a value of 12,978,603 thousand rubles. Consequently, trading was carried out by one-day firms, registered to a natural person registered in the Ivanovo region, by analogy with the sale of Yukos assets by the Baikal Finance Group.

Yenisei Industrial Company

The Yenisei Industrial Company (EPC) acquired the licence (up to 31 May 2020) for the development of the Elegest highlands in Ulug-Khem coal basin in Tuva, a remote region in the south-central part of Russia on the Mongolian border. The Russian Government later gave permission for construction of a railway, needed for movement of coking coal from the deposit.[62]

At the time of acquisition of the deposit, it was impossible to calculate whether the investment in EPC was profitable: geological surveys were needed that established that the coal deposit contained about a billion tonnes of high quality coking coal (the world's largest).

In 2008, EPC signed an agreement for the acquisition of 25% of shares at the market price and the option of up to 49% with Japanese conglomerate Mitsui. Mitsui then financed the geological exploratory work, on an irrevocable basis.[63]

Expropriation of Russian shares started in 2010, leading Pugachev to decide to sell EPC. In August 2010, OPK-Mining hired Credit Suisse to establish a list of potential buyers. According to a 2011

Hotel in Red Square (Middle Trading Rows)

In 2000, the Government announced a project for restructuring certain historical buildings, adjacent to Red Square in Moscow. For this purpose, a state enterprise was created under the name "Kremlevsky", with the rights to manage these buildings.

In 2004, Putin asked Pugachev to provide the Ministry of Defence with 1.5 billion rubles for construction of housing for military service personnel. Money was allocated, and as compensation an investment agreement was signed covering Pugachev's reconstruction and development of the Middle Trading Rows. Upon completion of the reconstruction, the five-star "Kremlyevsky" hotel complex was to open.[67]

The project was presented by managers to Kozhin. At the presentation, he said that the main difficulty in choosing the investor for "Kremlevsky" was the strict conditions involving compensation to the former owner (the Ministry of Defence) of about $60 million. Another problem was registering the property (more than half the total area of the complex of buildings). Kozhin also said that these conditions were accepted only by United Industrial Corporation (OPK) and became 100% owned by the project investor. According to him, the Ministry of Defence had compensated Pugachev from its own funds.[68] Architect Jean-Michel Wilmotte was invited to participate as a specialist in interior design of architectural monuments. Nightly room rates began at US$10 thousand.[69]

Gribanov project

The Gribanov project involved the development of 1162 hectares of land in the Krasnogorsk region and the Odintsovo regions.

The project intended to develop land for elite properties, The development involved French architect Jean-Michelle Wilmotte, and the construction of the golf courses involved Arnold Palmer.

In 2009, in consultation with Putin and Medvedev, the VTB Chairman Kostin proposed early payment of the loan for the land, under mortgage to VTB, with the market value of the 1162 hectares estimated at more than US$4 billion.[73]

To implement the project, Pugachev's organizations borrowed US$1 billion from VTB. Pugachev-controlled company OPK-Development managed the construction. According to media information, one of the sites located in the region of the Presidential residence Novo-Ogarevo, acquired by Pugachev (1162 hectares), turned out to be in the ownership of the Federal Protective Service. The media reported that this was the payment for implementation of this project by Pugachev.[74][75]

Career timeline

1991 — Pugachev established one of the first cooperative banks in the USSR, the Northern Commercial Bank. In 1993 he sold his share.
1992 — Founded the International Industrial Bank.
1999 — Creation of the Yenisei Industrial Company JSC.
2001 — Acquisition of a 56% stake in Tretiy Kanal.
2002 — Exit of capital and administrations of the International Industrial Bank.
2002 — Acquisition of the oil company "White Nights" LLC from the Croatian state oil company INA.
2002 — Acquisition of oil company "Aki Otyr"
2002 — Acquisition of a holding of "New programmes and concepts" (established in 1998) based at Severnaya Verf, the North-Western Shipping Company and certain assets in the defence industry (Kovrov mechanical plant, OKB "Sukhoy" etc.).
2002 — Acquisition of shares in about 60 machine plant companies.
2002 — Creation of the company "Russian coal".
2003 — Acquisition of a controlling share in "North-Western Shipping".
2003 — Acquisition of land assets in the region of Rublevo-Uspensk highway in the greater Moscow area.
Autumn 2003 — Acquisition of a minority share in Perm KB "Aircraft Engines"
Autumn 2003 — Acquisition of a minority stake in the Perm Engine Company
2004 — Creation of the United Industrial Corporation JSC
2004 — Sale of the White Nights and Aki Otyr companies to Rosneft structures
2004 — Creation of the company "Russian Coal"
2005 — Acquisition of a controlling stake in the Severnaya Verf Shipbuilding plant JSC
2005 — Acquisition of a controlling stake in the Baltiyskiy Zavod JSC
2005 — Acquisition of the Central Design Bureau of "Iceberg"
2006 — Creation of the company Luxadvor S.A.
2006 — Acquisition of the French television channel Luxe TV.
2006 — Acquisition of the LLC "First Moscow watch factory "Polet"" and the right to trademark "Polet" watches.
2006 — RF President's Management chosen by the investors and developers of the reconstruction of the Kremlevsky JSC complex and the "United Industrial Corporation". The project for reconstruction of the Middle Trading Rows on Red Square in Moscow with anticipated opening of a five-star hotel complex "Kremlevsky".[88] In 2009 the managers terminated the contract and passed the complex onto the Federal Protective Service.
2006 — United Industrial Corporation (OPK) and the Shanghai Overseas Investment Joint Stock Company (Shanghai Overseas United Investment Co. Ltd) signed a letter of intent, suggesting joint implementation of a project for complex development and construction of the land area of 56 hectares in St. Petersburg ("Vasilyevsky Island" project).
2007 — The government commission on investment projects approved the application of the Yenisei Industrial Company for joint financing from the RF Investment Fund for the project of constructing a railway line from Kyzyl (Tuva Republic) to Kuragino (Krasnoyarsk Territory) [127].
2007 — Creation of "OPK-Development" for implementation of the "Kremlevskiy" project, construction of elite housing on the Rublevo-Uspensky highway in the outer Moscow area (Gribanov project), reconstruction of the Primorskaya hotels and the Central Department Store in Sochi.
2007 — Acquisition by group of Hediard company.[79]
2008 — Implementation of land assets for VTB structures.
2008 — Acquisition of the investment company Design Capital.[89]
2008 — Acquisition of the French manufacturer of designer furniture, Artelano.[90]
2008 — Acquisition of the British company David Linley Holdings Limited, specializing in design of yachts, interiors and furniture.[80]
2008 — Acquisition of the French furniture company Forum Diffusion.
2009 — Acquisition of the American company Biopure Corporation and creation of "OPK Biotech" for implementation of a project for creating artificial blood substitutes.
2010 — Started a deal with the government concerning the sale of shares in Severnaya Verf, Baltiyskiy Zavod, the Central Design Bureau "Iceberg".[91]
2011 — Sale of the "Yenisei Industrial Company" JSC to shareholders of the "Russian Copper Company" (payment under contract not made).[92]
2011 — Sale of the company "Tretiy kanal" to structures of AFK "Sistema".[93]

Sergei Pugachev

Early life

Business career

Criminal proceedings

2015

Political career

Investment

Expropriations

Shipbuilding

Yenisei Industrial Company

Hotel in Red Square (Middle Trading Rows)

Gribanov project

Outside Russia

Legal claims

Career timeline

Personal life

Awards

Sources

External links

References

2016

2017

2020–2021

Early life

Business career

Criminal proceedings

2015

Political career

Investment

Expropriations

Shipbuilding

Yenisei Industrial Company

Hotel in Red Square (Middle Trading Rows)

Gribanov project

Outside Russia

Legal claims

Social activity

Career timeline

Personal life

Awards

Sources

External links

References

2016

2017

2020–2021