|
Mikhail Fridman, German Khan and Alexey Kousmichoff jointly hold beneficial controlling stakes (between 47%-100%) in all the Group’s main Subholdings. With the exception of ABH Holdings S.A. (“ABHH”), which includes Alfa-Bank Russia and Alfa-Bank Ukraine, and also includes 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 (in bold below) |
Effective
Alfa Group
majority stake |
Effective
minority stake |
Total
Effective Stake |
|
| ABH Holdings S.A. |
77.86% |
22.14% |
100.00% |
| Alfa-Bank Russia |
- |
- |
100.00% |
| Alfa-Bank Ukraine |
- |
- |
100.00% |
| Alfa-Bank Kazakhstan |
- |
- |
100.00% |
|
Alfa-Bank Netherlands |
- |
- |
100.00% |
|
Alfa-Bank Belarus |
- |
- |
93.80% |
|
| Alfa Finance Holdings S.A. |
77.86% |
22.14% |
100.00% |
| TNK-BP |
- |
- |
25.00% |
| Turkcell (managed by Altimo) |
- |
- |
4.99% |
| CTC Media, Inc. |
- |
- |
26.10% |
|
AlfaStrakhovanie Group |
- |
- |
100.00% |
| Alfa Asset Management |
- |
- |
92.78% |
| Alfa Capital Partners |
- |
- |
87.25% |
|
| Altimo Holdings and Investments Ltd. |
72.77% |
27.23% |
100.00% |
| MegaFon |
- |
- |
25.10% |
| Kyivstar GSM |
- |
- |
43.48% |
| VimpelCom |
- |
- |
44.00%* |
|
|
X5 Retail Group N.V. |
47.86% |
52.14% |
100.00% |
| Pyaterochka |
- |
- |
100.00% |
| Perekrestok |
- |
- |
100.00% |
| Karusel |
- |
- |
100.00% |
|
| A Common Holdings Ltd. |
100.00% |
0.00% |
100.00% |
| A1 Group Ltd. |
- |
- |
100.00% |
|
|
Ventrelt Holding Ltd. |
70.30% |
29.70% |
100.00% |
Note: The above structure represents the high-level, effective ownership and operational structure of our subholdings. Note that it does not depict the actual and complete legal structure of our subholdings.
Note: Alfa Group’s Main subholdings are depicted in bold above. For each of the companies within a subholding, the column entitled “Total effective stake” represents the ownership interest by that subholding in a particular company.
* Effective voting interest. |
