A notable shift is underway at Alfa-Bank as Mikhail Fridman and Pyotr Aven prepare to divest their holdings by selling their stakes to fellow investor Andrei Kosogov for 178 billion rubles, roughly 2.34 billion USD. The report comes via TASS, referencing coverage in the Financial Times.
Kosogov confirmed the arrangement in an interview with the Financial Times but declined further comment. Neither Fridman nor Aven responded to questions from newspaper staff, leaving details to circulate through media disclosures and official statements.
According to a Financial Times source, the London-based entrepreneurs aimed to shed Russian assets as part of their efforts to lift sanctions tied to Russia’s actions in Ukraine. The timing of the transfer points to a spring completion, though the process faces potential regulatory hurdles across several jurisdictions, which may complicate the path forward. The Financial Times notes that ABH Holdings SA, the holding entity for Alfa-Bank, is registered in Cyprus and would host the transfer if approvals are obtained.
Current ownership shows Fridman holding 33% and Aven holding 12% of the bank, with Unicredit and a foundation linked to cancer research listed as minority investors. In 2022, two other major shareholders, German Khan and Alexei Kuzmichev, stepped away from Alfa-Bank’s ownership group. Kosogov emerged as the largest beneficiary in the restructuring as his stake increased to 41%.
Earlier this year, Fridman and Aven exited Alfa-Bank’s board following their placement on European Union sanctions lists. The broader regulatory environment remains a factor as the parties navigate sanctions regimes that could influence approvals and the ultimate ownership structure.
Separately, in December 2022, reports surfaced about a British investigation into a Russian citizen suspected of money laundering in London. Allegations and evidence emerged during searches, with several individuals detained and subsequently released on bail. There were indications that authorities viewed potential sanctions violations in connection with those events.
Alfa-Bank’s spokespersons have denied any detention or connection of the shareholders to the London case. They stated that the parties are not involved in the reported incident and that there is no active link to the alleged wrongdoing under scrutiny.