Invest AG, owned by businessmen Alexander Abramov and Alexander Frolov, became a co-owner of a 40% housing project in the Vidnoye suburb of Moscow. The project, which can bring the Alexanders over 10 billion rubles, and the developer the chance to increase the portfolio of projects in Moscow and the Moscow region, will be implemented by RKS Development.
Invest AG Evraz shareholders Alexander Abramov and Alexander Frolov, through their controlled YuRP Invest LLC, grabbed 40% in RKS Bulatnikovo LLC. In turn, the remaining 60% stay with the RKS Development developer (building housing in Anapa, Penza, Tver and Khanty-Mansiysk) of the family of financier Igor Sagiryan.
According to Marina Shcherbakova, General Director of RKS Development, RKS Bulatnikovo LLC bought 14.5 hectares near the Bulatnikovo station in the Vidnoye area, which previously belonged to Mosagrosbyt LLC (after bankruptcy in 2017, it was sold for 37 million rubles. LLC “Stroyklyuch-4”). According to some estimates, the market value of this site is 700-900 million rubles.
RKS itself may have attracted Invest AG, which has administrative resources, to avoid potential risks, since the site in Bulatnikovo is intended for agriculture and it still needs to be converted into the category of land for settlements. It is known that the RCC already has experience of cooperation with Invest AG: the developer is a partner in the construction of the Holiday House residential complex in the village of Sukko in the Anapa district.
Evraz is a large vertically integrated steel and mining company and one of the largest vanadium producers in the world. The largest shareholder is Roman Abramovich (controls 28.64%), Alexander Abramov controls 19.32% of the capital (occupies the post of chairman of the board of directors), Alexander Frolov – 9.65%, Gennady Kozovoy owns 5.74%, Maxim Vorobyov – 3, 01%.
In 2017, billionaires Frolov and Abramov (Forbes in the 2016 rating estimated the total fortune of entrepreneurs at $5.1 billion) were linked to a London gay bar. Then the local portal Ham & High wrote that an offshore company, the ultimate beneficiaries of which is the aforementioned tandem, owned a mortgage on the London gay club Black Cap.
Mr. Abramov is a Russian billionaire steel magnate and a close business partner of Chelsea Football Club owner Roman Abramovich. In 2009, he bought 120 hectares of agricultural land in Northland, New Zealand, according to records in the Abramov Family Trust Department’s register, thus becoming one of the few domestic investors who received permission from the New Zealand Department of Foreign Investment.
It is also known that Abramov owns the superyacht Triple Seven (777), a modern 67-meter vessel with a cinema, gym and Jacuzzi on board.
In September 2020, it became known that Frolov and his partners Alexander Abramov, Roman Abramovich and Evgeny Shvidler (No. 1664 on the Forbes global list) sold all their shares in Highland Gold Mining (almost 30%) to Fortiana, the former top manager of the PIK group, Vladislav Sviblov for $427 million
