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Russian billionaire Prokhorov sells OPIN development company

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Russian billionaire Prokhorov sells OPIN development company

Lawyers of Russian billionaire, Mikhail Prokhorov, have launched negotiations on the sale of Open Investments (OPIN) development group of companies to owner of the Moscow Credit Bank (MKB), Roman Avdeev, Vedomosti newspaper reports on Monday.

Onexim group, owned by Mikhail Prokhorov holds 83,8% of OPIN shares.

As it became known, a total debt of OPIN amounts to 28,5 bln roubles, including 13,5 bln roubles to the Moscow Credit Bank.

Late in March, OPIN estimated its gross assets value at no more than 36,8 bln roubles.

Thus, the company’s sale price shouldn’t exceed 8 bln roubles, whereas its debts and difficulties in communication with creditors might reduce this figure twofold.

Nevertheless, according to the newspaper controlled by Mikhail Prokhorov, the billionaire made a decision to sell out all his assets in Russia.

As a reference, in mid-April, Russia's Federal Security Service (FSB) conducted a search in the office of Onexim investment group located on Tverskoy Bulvar.

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