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New Shareholders of "Motovilikha"

35% of engineering holding felt under the control of the companies from Amsterdam

16.08.2012 | Kommersant (Ekaterinburg), №151 (4933) | Maxim Strugov, Tatyana Drogaeva

The Dutch companies NL Metal Holding B.V. and Buensli B.V became the new shareholders of "Motovilichinskiye zavody" and get 35% of shares. At the same time companies, which were closed to businessman Vagarshak Sarksyan and his partners disappeared. Experts leave open the possibility that somebody prepares the entity for sale. Primary prospect is "UralVagonZavod", which at early in the year has bought 15% of shares. Experts also thinks that transfer of shares to Dutch companies can lead to simplification of the sale procedure.

Shareholder's structure of JSC included two Dutch companies. As it follows from the first quarter report of the entity, two companies are NL Metal Holding B.V. and Buensli B.V. They received 17,5% of shares. Both companies are registered in Amsterdam and have one address- Haaksbergveg Street, 71.The Dutch companies didn't provide information about controllers. "Motovilikha" declined to comment the situation.

As on May of 2012 25 % of shares belonged to JSC "Rosoboronexport", 10% to "Splav state research and production association", 15 % to subsidiary of "UralVagonZavod". 35% of shares belonged to businessmen of Perm and to closed companies. Member of Legislative Assembly of Perm Territory Vagarshak Sarksyan had 10 % of shares. The same parcel of shares had JSC "Rusinvest", "Region MZ" had 15%.

UralVagonZavod became the shareholder at the beginning of this year. It took up 15% of shares from ex-deputy Marat Zagidulov. At that time the head of UVZ Oleg Sienko said that entity wants to buy controlling stake. At first top-management of "Motovilichinskiye zavody" renounced to recognize the rights of new shareholder, but then representatives of UVZ were allowed to the annual meeting of shareholders. In July executive director of JSC "Motovilichinskiye zavody" Nikolay Buhvalov announced that the entity negotiates about additional sale of shares to UVZ. Yesterday "UralVagonZavod" also declined to comment the situation.

Our comment:

Roman Rechkin, specially for specially for the newspaper “Kommersant”: “Transfer of shares to the Dutch companies can be intended for the simplification of sale procedure”.

According to the senior partner of Law Firm Group INTELLECT-S Roman Rechkin, transfer of shares to the Dutch companies can be intended for the simplification of sale procedure. "Instead of the direct sale of shares the seller can sell to the buyer the Dutch companies, which have these shares. Such bargain makes in Holland too, according to the Dutch law. That's why it is unnecessary to obtain consent from OFAS Rusia. Besides that, there's no need to execute the transmission of rights to shares", he told and added that such bargain helps to provide its confidentiality, because all documents of the Dutch companies (first of all the priced contract) will stay in Holland.

Corporate Disputes, Corporate Law, Corporations, International Law, Offshores, Takeover Defense

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