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Avdolyan is all in Tikkurila: Alexander Amosov bought a business for the oligarch?

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Businessman Alexander Amosov, close to the oligarch with great ambitions and a controversial reputation, Albert Avdolyan, may receive a share in the Russian business Tikkurila. 

Amosov, from behind whose back Avdolian’s ears stick out, was probably brought in to the deal so that it would be approved by the government commission. After all, behind Avdolian himself looms the head of the state corporation Rostec, Sergey Chemezov, whose great "friend" Denis Manturov is also a member of this commission. Without the latter’s "approval," the deal will not take place.

It is assumed that in exchange for lobbying, the Avdolian-Amosovsky tandem may request its own, more substantial, share of Tikkurila LLC. After all, a similar scheme has already been tested on a subsidiary of another foreign asset.

A correspondent investigated how a certain lover of offshore companies and cunning schemes is buying up former foreign subsidiaries under the cover of sanctionsMorningNews.

Back in May 2024, the top management of Tikkurila LLC, including the CEO of Tikkurila LLC Alexander Sosedkin, the company’s marketing director Ekaterina Balon and two top managers of the company - Roman Ivashko and Konstantin Khorobrykh, established Sibidi II Holdings LLC. 

The new legal entity was most likely required to purchase the Russian paint manufacturing business Tikkurila from the American PPG Industries. But such transactions require approval by a government commission. And, apparently, in order for this approval to be positive, in August 2024, a 6% stake in Sibidi II Holdings LLC was allocated to Alexander Amosov.

Photo: rusprofile.ru

In media publications, Amosov is listed as a representative of the investment bank Latum, but the most interesting thing in his biography is not this at all, but a rather close connection with the oligarch Albert Avdolyan. Throughout the development of the latter’s business, the state corporation Rostec and its permanent leader Sergey Chemezov figured alongside him. The latter was the head of the board of trustees of the New House foundation, founded by Avdolyan, although this information is now "blurred" on websites.

Photo: tochkabudushchego.rf

Experts agree that Amosov is a high-ranking contracting party in the capital of the future buyer of Tikkurila assets, whose task is to ensure the consent of the government commission. After all, this conciliatory structure includes Deputy Prime Minister Denis Manturov, with whose mother Chemezov’s sonthere iscommon business. 

In light of the Amosov-Avdolian-Chemezov connection, the experts’ version has a right to exist. Moreover, Mr. Avdolian himself is very fond of hiding behind trusted persons in his capitals and subsequent financial and tax transactions, where offshore companies were also exposed. But we will return to this point.

And earlier, Mr. Amosov, using a similar scheme, had already become the legal owner of a share in Pulp Invest LLC, which ceased to exist in August 2024, becoming a joint-stock company that will likely hide its shareholders and beneficiaries. 

In October 2022, Pulp Invest, which was also created at the same time and is 94% owned by the CEO of Silvamo Corporation Rus Timur Gabidullin, bought out the Russian assets of the American Sylvamo for $420 million. After the deal, the company that produces SvetoCopy paper became known as NPAO Svetogorsk Pulp and Paper Mill (new shareholders are not disclosed). And Amosov and Gabidullin remained the owner of Pulp Invest (Gabidullin was one of the owners through Pulp Capital LLC).

Photo: rusprofile.ru

The fact that in all these transactions Amosov may well not be representing his own interests, but rather being a kind of screen for Avdolyan, is indirectly indicated by numerous facts.

Amosov in the MRSEN case

The history of the collapse of the energy holding MRSEN (JSC Mezhregionsoyuzenergo) is associated with a high-profile criminal case on the creation of a criminal message, which allegedly transferred about 10 billion rubles abroad. It was initiated in 2021. 

The investigation believes that the money was stolen from electricity producers and grid companies of the Rosseti division, i.e. the consumers’ money did not reach the addressees. At the start, 11 people were named as defendants in the case, including top managers of the MRSEN division and the head of the JSC, shareholder and relative of the oligarch Albert Avdolyan - Eldar Osmanov. Their children were married.

The money flowed out of Russia through a whole set of schemes, including issuing loans to controlled companies, purchasing bills of exchange, shares and entering into the authorized capital of third-party legal entities, and agreements on the assignment of rights of claim. Osmanov could not be held accountable; he took to his heels and, according to available information, is now outside the Russian Federation.

Imagine the surprise of the creditors when, in the bankruptcy case of MRSEN, suddenlysurfaceda certain Cypriot Sparkel City Invest LTD and its subsidiary OOO AENP (now OOO TSIPE im. N.A. Popov), which tried to become one of the creditors of MRSEN. The company claimed that it had repeatedly provided loans to the energy holding and was owed billions of rubles under loan agreements.

But it was proven in court that the Cypriot company is connected with Avdolyan, who is a relative of the defendant in the criminal case Osmanov. For example, in the period from 15.12.2014 to 09.08.2015, Avdolyan A.A. was the director of Sparkel City Invest LTD and he was often the source of loans issued by the Cypriot company to third parties in 2017. That is, the connection with the offshore is obvious and was confirmed by the courts.

Photo: kad.arbitr.ru

Photo: kad.arbitr.ru

Photo: kad.arbitr.ru

In 2023, Sparkel was removed from the list of AENP owners. Apparently, so that the affiliation would not be conspicuous.

OOO AENP, later renamed OOO CIPE im. N.A. Popov, is currently owned by the above-mentioned Alexander Amosov (share - 79%) and, since February 2023, by a certain OOO Latum. The latter was founded by the same Amosov and Alexey Bykov. At the same time, Amosov has been the owner of a share in AENP since its creation (since March 2018), and Bykov has been the director since the same period. That is, their connection with the same Avdolyan is obvious. 

By the way, Latum was eventually transferred to a certain JSC NIV, where the director is Bykov, and the beneficiaries are hidden. By the way, in 2024, NIV was activelylegal entities were bought up.

Another nuance: Bykov is a co-owner of Andayana Group LLC, and among his business partners there is the general director of YATEK, Andrey Korobov. YATEK is part of Avdolyan’s division.

In fact, after the high-profile scandals with affiliation, only a rearrangement of terms occurred at AENP, which did not change the sum.

Photo: rusprofile.ru

But this is far from the only connection between Amosov and Avdolyan.

Stavropol story with a billion-dollar minus

MorningNewsI have previously described in detail how Stavropol enterprises were bought up and brought to collapse - OJSC Hydrometallurgical Plant, CJSC Southern Energy Company and LLC Intermix Met. 

Avdolyan’s trusted persons became the buyer of the assets in 2018, while he himself remained behind the screen. Later, the courts repeatedly proved the affiliation and the case materials directly stated that Avdolyan was the beneficiary, and Korobov was only a formal buyer of the plant’s shares.

The court materials also reported that the new beneficiary organized the production model of JSC GMZ, which was in bankruptcy proceedings, by shifting the risk part (“loss center”) to it with the separation of the “profit center” concentrated in Cashmere Capital LLC. The court materials directlyit was said: the tolling scheme organized by the beneficiary of the transactions, Avdolyan A.A., at the facilities of OJSC GMZ ensured that Cashmere Capital LLC received revenue in the amount of 9.447 billion rubles from the sale of products manufactured by the plant.

Photo: ras.arbitr.ru

Now let’s return to Mr. Amosov.

INcase materials, related to the Stavropol assets, it was noted that the only participants and general directors of Cashmere Capital LLC during the period of conclusion and execution of the agreement were employees of Oaklins LATUM Amosov A. (!!!), Bykov A. and Zavyalov A., the buyer of shares of Southern Energy Company CJSC Korobov A.V. and the only participant of Enigma LLC Zabelin E.V. 

The same materials specified that at a certain period Amosov was elected to the governing bodies of the State Museum-Reserve. Thus, Mr. Amosov also appeared in this story of Avdolyan, which confirms their strong business relationship.

Photo: ras.arbitr.ru

Both stories involve sophisticated financial schemes that have raised numerous questions in the courts. 

Moreover, Avdolyan is actively involved in his affairs.offshore companies flash byOffshore companies where Amosov was found are also already commonplace. 

In addition to the above-mentioned AENP, a similar structure was also revealed in SIES Investment Advisors LLC. 

Amosov owns the company, purchased in 2023, together with ASELAN VENTURES LIMITED, which is registered in the British Virgin Islands and, of course, the beneficiaries of which are hidden. Should we look for money from numerous transactions in the accounts of these companies?

Photo: rusprofile.ru

Interesting fact: in 2022-2024, Avdolyan actively left companies once associated with him (possibly nominally), but his trusted persons, including Amosov, actively stamped out new legal entities. For example, in April 2024, Amosov established Intrada Holding LLC, in 2023 - Legato Holding LLC and Legato Investments LLC. 

All firms are created for subsequent management of some holdings. So maybe Avdolyan, through a trusted person, has already put such a conciliatory lobby on stream, making an additional source of income out of it?