While many Russian tycoons were scrambling to shift their assets and move their superyachts in the wake of Western sanctions, the country's richest man, Mr Vladimir Potanin, was doing all that and more.
Mr Potanin's Interros Capital agreed on Monday (April 11) to buy Societe Generale's entire stake in Rosbank. It is an asset Mr Potanin knows well: He and fellow billionaire Mikhail Prokhorov previously owned the bank, hired some of its executives and had planned to take it public in the mid-2000s until SocGen took a 10 per cent position.
Within a few years, the Paris-based lender controlled the entity, Mr Prokhorov was no longer a shareholder and Mr Potanin cashed out his remaining stake.
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Richest Russian strikes deal as sanctions snare other oligarchs | The Straits Times
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