Said Kerimov Explained

Said Suleymanovich Kerimov
Birth Place:Moscow, Russia
Occupation:Businessman
Father:Suleyman Kerimov

Said Kerimov (born July 6, 1995) is a Russian businessman who is the son of Russian billionaire and politician Suleyman Kerimov. In 2015, he became a majority shareholder in Polyus Gold, Russia’s largest gold producer, when his father transferred shares over to Said.

During the 2022 Russian Invasion of Ukraine, Kerimov resigned from the board of Polyus Gold on first week of April 2022, while at the same time his family sold its stake in the company worth $6.3 billion which resulted in the family losing majority shareholder position at Polyus Gold.[1]

Career

In 2014, Kerimov acquired Russia's cinema chain, Cinema Park from Vladimir Potanin for an estimated $385 million.[2] Cinema Park was sold in 2017 to Alexander Mamut.[3] [4]

In 2017, Kerimov took over the control of bankrupt Makhachkala Airport.[5]

Sanctions

In January 2023 Japan imposed sanctions on Said Kerimov.[6]

PJSC Polyus

In 2015, Kerimov became a majority shareholder in Polyus Gold, Russia’s largest gold producer, when his father Suleyman transferred shares over to Said.[7] [8] In the same year Polyus Gold announced that it was delisting from the London Stock Exchange (LSE) and rebranded as PJSC Polyus.[9] [10]

In July 2017, Polyus was re-admitted to the London Stock Exchange.[11] As of end 2020, Kerimov owned about 77% shares of the company.[12] In 2021 he sold part of his stake and gave the remaining to the Fund for support of Islamic foundations.[13]

References

  1. News: Pendleton . Devon . 2022-04-06 . Sanctioned Russian's family sells $6 billion stake in gold miner . en . Bloomberg.com . 2022-04-29.
  2. News: Russia's top theater network sold to 19-year-old student . Holdsworth . Nick . November 13, 2014 . The Hollywood Reporter . 2018-02-01 . en.
  3. News: Tycoon Alexander Mamut acquires Russia's largest cinema chain . Kozlov . Vladimir . March 30, 2017 . The Hollywood Reporter . 2018-02-01 . en.
  4. News: Afanasyeva . Anna . 29 March 2017 . Александр Мамут купил «Синема Парк» . Alexander Mamut bought Cinema Park . ru . . 16 May 2024. Translated and republished as Web site: Alexander Mamut has bought Cinema Park . Afanasyeva . Anna . 0 . 2017-03-30 . rusletter.com . en . 2018-02-01 . dead . https://web.archive.org/web/20180202012801/https://rusletter.com/articles/alexander_mamut_has_bought_cinema_park . 2018-02-02.
  5. News: Сын Керимова стал владельцем аэропорта Махачкалы . Lyalikova . Anastasia . Kerimov's son became the owner of Makhachkala airport . ru . Forbes.ru . 14 February 2017 . 2018-02-01.
  6. Web site: Government of Japan . 27 January 2023 . ウクライナ情勢に関する外国為替及び外国貿易法に基づく措置について . Measures based on the Foreign Exchange and Foreign Trade Law regarding the situation in Ukraine . ja . 7 February 2023.
  7. News: MacDonald . Alex . 2015-09-02 . Said Kerimov may buy up remaining Polyus gold shares . en-US . The Wall Street Journal . 2018-02-01 . 0099-9660.
  8. News: Devitt . Polina . Asonova . Diana . September 30, 2015 . Co-owner of Russia's Polyus Gold makes offer for remaining 60 . en-GB . Moscow . Reuters . 2018-02-01 . dead . https://web.archive.org/web/20180202071458/https://uk.reuters.com/article/russia-polyus-gold-intl/update-1-co-owner-of-russias-polyus-gold-makes-offer-for-remaining-60-pct-stake-idUKL5N12049H20150930 . 2018-02-02.
  9. News: Billionaire's 20-year-old son may lead $5 billion Polyus bid . Fedorinova . Yuliya . 2015-09-02 . Bloomberg.com . 2018-02-01 . en.
  10. News: Russia's Polyus tests markets with London and Moscow share sales . Devitt . Polina . June 5, 2017 . Moscow . Reuters . 2018-02-01 . en-GB . dead . https://web.archive.org/web/20180202071736/https://uk.reuters.com/article/uk-russia-polyus-spo/russias-polyus-tests-markets-with-london-and-moscow-share-sales-idUKKBN18W0O1 . 2018-02-02.
  11. Polyus announces results of the offering following stabilisation period . Drozdov . Victor . Vasilyeva . Victoria . 2 August 2017 . . en . 2018-02-01 . dead . https://web.archive.org/web/20170808100524/http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PLZL/13317036.html . 2017-08-08.
  12. Web site: Shareholder structure . polyus.com . 2020-12-26 . dead . https://web.archive.org/web/20210127162453/https://www.polyus.com/en/investors/shares/shareholder-structure/ . 2021-01-27.
  13. Drozdov . Victor . 13 May 2022 . Changes in shareholder structure . Polyus . 2022-08-21.

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