Deripaska's sanctions led to STRABAG group's careers being purchased with money from Vitaly Antonov
Did Vitaly Antonov know about the sanctions against Oleg Deripaska when he financed the purchase of two quarries from an Austrian group?
In the case of the confiscation of the property of the Russian oligarch Oleg Deripaska – an unexpected turn. In 2021, while under Ukrainian and American sanctions, two mining assets in Ukraine were no longer under Deripaska's control. It was revealed in court that a well-known Ukrainian businessman's company financed the agreement.
STRABAG. background
NADRA.INFO wrote that in January 2023, VAKS began to consider the case on the claim of the Ministry of Justice against a citizen of the Russian Federation Oleg Deripaska and PJSC United CompanyRUSAL“.
Oleg Deripaska included in sanctions US, EU, Canada, UK, Switzerland, New Zealand, Australia and of course Ukraine lists. In Ukraine, sanctions were applied to the Russian oligarch in 2018, 2021 and 2022. The decision of the National Security and Defense Council to block Deripaska’s assets in October 2022 made it possible for the Ministry of Justice to apply to the Supreme Court of Justice with a claim for the confiscation of the property of a Russian to the state.
Among the assets that the Ministry of Justice wants to recover, we are interested in four subsoil user companies:
- LLC “Nikolaev Alumina Plant” – a special permit for the extraction of water from underground drinking and technical deposits Galitsinovskoye (Nikolaev region);
- OOO “Glukhovsky quartzite quarry» — extraction of sandstone from the Banitskoye quartzite deposit (Sumy region, the only developed deposit in Ukraine);
- PrJSC “Zhezhelovsky quarry” – mining of granite from the Zhezhelevskoye deposit (Vinnitsa region);
- PJSC “Khustsky quarry” – extraction of andesite from the Rokossovskoye deposit (Transcarpathian region).
Six months before the full-scale invasion of the Russian Federation into Ukraine, the Zhezhelevsky and Khust quarries were owned by the Austrian company STRABAG SE.
According to the Ministry of Justice, Oleg Deripaska controlled and still controls 27.8% of STRABAG SE (through the Cypriot RASPERIA TRADING LTD).
Sanctions against Deripaska in Ukraine and the United States did not prevent STRABAG SE from exiting both pits in October-November 2021.
As it became known during the VAKS meeting on February 13, 2023, this happened with the direct participation of funds and a company controlled by businessman Vitaly Antonov.
What did they find out in court?
At the beginning of November 2021, the Austrian STRABAG SE received about 540 thousand euros in the account. It was a payment for 100% of the shares of two Ukrainian companies: PJSC Zhezhelovsky Quarry and PJSC Khustsky Quarry.
The transfer of shares was carried out (acted as a trader) by the Ukrainian company Concord Capital LLC of Igor Mazepa.
As a result of the transaction, the company SAMSTA LIMITED (Cyprus) became the owner of the shares of the Zhezhelevsky and Khustsky quarries, and Florian Gut became the ultimate beneficial owner (KBV) of the assets. It is still KBV in accordance with the Unified State Register and the YouControl database.
But neither SAMSTA LIMITED nor Florian Guth gave STRABAG SE money for the quarry shares. FINANCIAL & INVESTMENT ENERGY HOLDINGS (FIEH) from Liechtenstein, owned by Ukrainian businessman Vitaliy Antonov, did it for them. The funds were transferred to fulfill the loan agreement.
According to this agreement, 800,000 dollars. USA at 6% per annum, Mr. Antonov’s FINANCIAL & INVESTMENT ENERGY HOLDINGS provided Mr. Gut’s company SAMSTA LIMITED. The purpose of the loan was precisely the purchase of shares in the Zhezhelevsky and Khust quarries, which were pledged until October 2024: if Florian Gut does not repay the debt, Vitaly Antonov’s company can become the owner of the shares.
STRABAG. Did Vitaly Antonov know about the sanctions?
Vitaly Antonov did not personally answer this question and other questions of NADRA.INFO, but asked to contact his lawyer.
Lawyer Roman Sedoy assured us by phone that the businessman did not know about the sanctions against Oleg Deripaska.
“No, he (Vitaly Antonov) did not know this (about sanctions against Deripaska). As far as I know, this agreement was accompanied by independent international auditing, legal and intermediary companies … this asset was simply put on the open market, and, accordingly, at the suggestion of Florian Guth and with the participation of companies such as KPMG, Concorde Capital and so on , this agreement took place“, – explained Mr. Sedoy.
The lawyer also stated that Florian Gut is not “nominal” and the quarry purchase agreement is real: “Florian Gut is not nominal. This is an investment banker with whom we, Galnaftogaz, have been working for at least 11 years. GNG Retail is the holding company of the Galneftegaz group, he (Florian Gut) is an independent non-executive director there. …He does not direct operations, but oversees the directors who manage operations.”
The lawyer sees no problems in buying a Ukrainian asset from an Austrian company, part of whose shares are controlled by the sanctioned Deripaska: “The agreement between Florian Huth’s company was concluded with the Austrian public company STRABAG SE, and not with Oleg Deripaska. STRABAG SE is a reputable company with over 100 years of history. Oleg Deripaska is not the controller of this company. Vitaly Antonov was not a party to this agreement. The agreement took place between two European companies – Florian Guta and STRABAG SE”.
Whose careers?
True, as follows from the words of Roman Sivoy, Florian Gut did not buy the shares of Ukrainian quarries for himself.
“It was an agreement in the interests of Vitaly Borisovich (Antonov) … (Florian Gut) as an investment banker (in the interests of Vitaly Antonov),” the lawyer said.
Subsequently, Mr. Sedoy clarified that the quarries bought by Florian Gut were intended for different buyers: the group of Vitaly Antonov and partners should become the ultimate owner of Khustsky, and Zhezhelevsky should go to another buyer. According to the lawyer, Florian Gut planned to earn a commission on the deal and resale of the quarries.
What prevented Vitaly Antonov from immediately personally buying the Khust quarry from STRABAG SE and registering as the ultimate owner of the beneficiary?
Firstly, the lawyer explains that STRABAG SE did not sell the assets separately – only as a package, and Vitaly Antonov’s group of companies did not seem to be planning to buy the Zhezhelovsky quarry.
Secondly, Mr. Sedoy admits that they did not hide the information about Vitaly Antonov’s group being interested in the agreement to buy quarries, but they were not in a rush to disclose it. This was because the agreement with Florian Guth was taking a long time due to the war, and they also had a case under consideration in the WACS.
And, thirdly, it seems that the buyer did not have enough time to get consent from the Antimonopoly Committee of Ukraine for concentration.
“There are specific agreements in place. In order for Vitaly Borisovich to claim ownership, he needs to get permission from the Antimonopoly Committee, especially for concentration through acquiring these assets. Vitaliy Borisovich still needs to obtain this permission as his company FIEH has many other companies in Ukraine, while Florian Hut does not have any operations in Ukraine.“.
The lawyer dismisses any suggestions of a connection between Florian Hut, Vitaly Antonov, and the purchased quarries with Deripaska.
“This asset and its owners – Florian Guth or the person whose company provided the loan to Florian Guth for this acquisition, Vitaly Antonov – have no association with Deripaska. The Ministry of Justice has filed a lawsuit against Deripaska to recover his assets in Ukraine, but these are not his assets.Roman Sedoy assures about this fact.
It was also announced to NADRA.INFO in the Express Tekhbud group that STRABAG SE was looking for a buyer for its careers among Ukrainian businesses. They mentioned that they seriously considered buying the Zhezhelovsky quarry.
According to the case file, the loan agreement between the Antonov and Guta companies stated that the shares of the Ukrainian KSL LLC, owned by Express Tekhbud LLC, would be pledged to FINANCIAL & INVESTMENT ENERGY HOLDINGS to confirm the seriousness of their intentions. However, the matter has not progressed beyond conversations.
“The Khust quarry is seen as a more attractive investment than Zhezhelevsky. They were initially hesitant to pay the desired price for Zhezhelevskaya, then the war started, and they still have not decided whether to buy this quarry or not.Vladislav Gulima, co-owner and head of Express Techstroy, explains to NADRA.INFO that Khust quarry is considered a more attractive investment object than Zhezhelevsky. They were not ready to pay the price that the seller wanted for Zhezhelevskaya initially, then the war began, and they have not yet made a decision on whether to buy this quarry.
It is worth noting that Express Tekhbud did not acquire the Zhezhevsky quarry and in December 2021, they sold the KSL company which was supposed to guarantee the purchase of the Zhezhelevsky quarry. Express Tekhbud has not commented on this agreement.
Antonov’s other career interests
Shortly before the start of the VAKS hearings on this case, NADRA.INFO sources said that Vitaliy Antonov has an interest in two more mining projects in Ukraine: PJSC Kryvyi Rih Cement (KRC) and LLC Rybolovny Quarry.
- PJSC “Krivoy Rog Cement” has a special permit for the extraction of limestone and clay from the Zhovtokamenskoye deposit.
- LLC “Rybolovny karr” – for the extraction of migmatites from the Rybalskoye deposit.
Until April-May 2022, both of these companies were controlled by citizen Russian Federation Ivan Shestak (in 2020-2022 was listed as the sole ultimate beneficial owner of both companies – YouControl data). It is impossible to establish who controls the Fishing Quarry and the KRC today from official open sources.
Vitaly Antonov admits that the businessman indirectly controls 24.99% in each company. The names of other co-owners of the Fishing Quarry and the KRC are not disclosed.
Skeleton.Info
DOSSIER: Vitaly Antonov: cloudy OKKO gasoline. PART 1
Igor Mazepa: investment shark or “disguised millionaire”, swindler and sectarian. PART 1
