This week ONEXIM Group selling its 20 percent stake in Uralkali to a business structure of Belarusian entrepreneur Dmitri Lobyak was one of the most talked about business event.
Kommersant correspondent requested Westside Advisors Managing Partner Sergey Vodolagin to
It was a leveraged buyout of the previously pledged stake, funded by one of the Russian banks. Sergey Vodolagin points out sale of pledged property can only happen subject to the pledgee’s consent. «It does not matter for them who owns the property that had been given as collateral, but obtaining consent is required for the transaction. Even if the owner has changed, in case of default the pledgee is entitled to recover from the pledged property nonetheless.»Back