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 Home | About the Group | Alfa Group`s Shareholders

Mikhail Fridman, German Khan and Alexey Kousmichoff jointly hold majority stakes (between 73%-100%) in all the Group’s main Subholdings. With the exception of ABH Holdings Corp. (“ABHH”), which includes Alfa-Bank, AlfaStrakhovanie Group, Alfa Asset Management and Alfa Capital Partners and small stakes in Alfa Finance Holdings S.A. and Altimo, their holdings are consolidated through CTF Holdings Limited (“CTF”), which also acts as the Group’s Corporate Centre. In order to participate in Federal Deposit Insurance Scheme of the Central Bank of the Russian Federation, ABHH was spun out by CTF and the companies of the minority shareholders and is now held directly by the beneficial shareholders (click here for shareholder structure of ABHH). Minority stakes in the Group’s main Subholdings are held by a small number of individuals, who manage the investments through shareholders' agreements with CTF. 

Set out below is a summary of the Group’s main subholdings and their main investments indicating the Group’s ownership and effective interest of majority and minority shareholders:
 
Subholdings Effective
Alfa Group
majority stake
Effective
minority stake
Total

ABH Holdings Corp. 77.86% 22.14% 100.00%
    Alfa-Bank Russia 77.86% 22.14% 100.00%
    Alfa-Bank Ukraine           77.86%           22.14 %        100.00%
    AlfaStrakhovanie Group 77.86% 22.14% 100.00%
    Alfa Asset Management 77.86% 22.14% 100.00%
    Alfa Capital Partners

77.86%

22.14%

100.00%


Alfa Finance Holdings S.A. 77.86%  22.14% 100.00%
    TNK-BP 19.47%  5.53%   25.00%
    Turkcell (managed by Altimo)   5.14%*    1.46%*    6.60%*
    CTC Media, Inc.

20.32%

 5.78%

  26.10%


Altimo Holdings and Investments Ltd. 72.77% 27.23% 100.00%
    MegaFon 18.26% 6.84% 25.10%
    Kyivstar 31.64% 11.84% 43.48%
    VimpelCom           32.02%**           11.98%**         44.00%**

X5 Retail Group N.V.

47.17%

0.00%

47.17%

    Pyaterochka

47.17%

0.00%

47.17%

    Perekrestok

47.17%

0.00%

47.17%

    Karusel           47.17%            0.00%         47.17%

A Common Holdings Ltd. 100.00% 0.00% 100.00%
    A1 Group Ltd.         100.00%            0.00%        100.00%

Russian Technologies Ltd. 80.00% 20.00% 100.00%


   Note: Effective minority stake represents stake held by Alfa Group affiliated minority shareholders.
   
* In November 2005 Alfa Finance Holdings S.A., through its 100% subsidiary Alfa Telecom Turkey Limited, acquired indirectly 49% Cukurova Telecom Holdings. Cukurova Telecom Holdings effectively owns a 26.98% indirect interest in Turkcell Iletisim Hizmetleri, AS. In January 2008, Alfa Finance Holdings S.A. sold a 50% stake in Alfa Telecom Turkey Limited to a third party investor.

** Effective voting interest.

 

 

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