MOSCOW (Reuters) – A firm tranquil by Russian billionaire Mikhail Gutseriev and his family is offered off a $400 million portfolio of assets, including Russia’s usually finished building designed by designer Zaha Hadid, dual genuine estate sources told Reuters.
The Gutseriev family’s Safmar holding includes a bank, BN, which, according to ratings organisation Fitch, has seen a decrease in liquidity. The holding has pronounced it was deliberation a collateral injection for a unit.
Asked by Reuters if a skill sell-off was related to financial issues during a bank, a orator for Safmar pronounced a organisation had prolonged been seeking to sell non-core resources and they would not be sole during a discount.
According to a dual genuine estate sources, Safmar final week hold a display for genuine estate consultants to representation them a portfolio totaling 900 opposite assets.
The holding was represented during a assembly by Sait-Salam Gutseriev, who is Mikhail Gutseriev’s hermit and plays a lead purpose in Safmar’s genuine estate businesses, pronounced a dual sources, who attended a meeting.
The many costly singular lot, according to a handbill circulated by Safmar and seen by Reuters, is Dominion Tower, an bureau retard in south-east Moscow designed by Hadid.
The Iraqi-British architect, who won worldwide commend with her unconventional designs, died of a heart conflict aged 65 final year. The handbill valued a building in Moscow during 2.2 billion roubles ($37.64 million).
The genuine estate sources pronounced a portfolio was done adult of resources that Safmar acquired when a businesses discovered struggling Russian banks and hereditary their loan books, including earthy resources that had been seized from borrowers who defaulted on their loans.
Other equipment in a handbill enclosed used trucks, family dwellings, land and bureau buildings.
The handbill gave a sum value of a resources as 22.9 billion roubles, or around $400 million.
The Safmar orator pronounced a organisation had oral formerly of a willingness to sell non-core assets, including genuine estate assets, for a suitable price.
“That positively does not meant a ignored sell-off,” a orator pronounced in an email to Reuters.
The orator also pronounced a portfolio was not value $400 million, though did not contend what a scold figure was.
The holding’s Chief Executive, Avet Mirakyan, told Reuters progressing this month Safmar was looking during divesting some of a genuine estate assets. He pronounced that after a duration of fast enlargement a organisation now wanted to consolidate.
“In general, a same as any other business, we don’t have resources we wish to be sitting in forever. If we see a good event to exit from an asset, we will cruise it,” Mirakyan said.
Writing by Christian Lowe; Editing by Adrian Croft