Wednesday, June 1, 2011

Friedman and Deripaska - brothers forever

Today, the Moscow Arbitration Court has stopped production of the four suits of the OJSC Alfa-Bank to the Company "GAZ automobile plant" and "trade companies GAS (GAS TCC). It was about the recovery of outstanding loans totaling 2.228 billion rubles. Alfa-Bank has abandoned its claims. In early March the management of GAS, said the company has been restructuring the debt owed to a syndicate of banks totaling $ 39.3 billion. "Alpha" - was the last of the banks, which failed to reach an agreement. The Bank is known for his tough stance against the borrowers and fights for every penny. In a message GAZ stated that "the company entered into loan agreements with banks for five years with deferred payments of principal for two years, suspended interest payments for six months, the loan agent and organizer of the syndicate of creditor banks GAZ Group made Sberbank agent for the documentation - Raiffeisenbank. Recall that the GAZ Group in February 2010 raised state guarantees worth 20 billion rubles, which will benefit 50% of the loan and the remainder of the debt secured by the company, including property complexes and Service 16.2% Treasury shares GAZ. Owner of a mortgage - the Savings Bank. As the general director of "Russian Machines" (the main shareholder of the GAZ Group "), Valery Lukin, the debt has been restructured at an interest rate of Bank of Russia, plus 4%. GAZ Group is a machine-building holding "Russian Machines", which is part of Basic Element, Oleg Deripaska. One of the largest shareholders of Alfa-Bank "- the famous oligarch Mikhail Fridman. Note that in the midst of conflict, both oligarchs came to the Kremlin, where, it was Mr Deripaska at the time received support from the authorities.

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