Republic of Kalmykia

Posts Tagged ‘Petrol’

Russian oligarch buys Bulgarian oil company “Petrol Holding”. Former President of the Republic of Kalmykia and President of the World Chess Federation (FIDE), Kirsan Ilyumzhinov, became a majority owner of the largest Bulgarian fuel distributor “Petrol Holding”.

The Switzerland-based company “Credit Mediterranee”, owned by Kirsan Ilyumzhinov, has bought the shares of Dennis Jersov and Alexander Melnik which amounted to 52.5%, the remaining part of 47.5% belongs to the Bulgarian businessman Mitko Sabev.

For 17 years (between 1993 and 2010), Ilyumzhinov was president of Republic of Kalmykia – a constituent part of the Russian Federation (European territory of Russia). Read the rest of this entry »

The President of the World Chess Federation and ex-president of Russia’s Republic of Kalmykia, Kirsan Ilyumzhinov has bought a 52.5% stake in Bulgaria’s largest fuel company Petrol Holding.

Swiss-based Credit Mediterranee owned by Kirsan Ilyumzhinov bought the 47.5% stake owned by Denis Ershov and the 5% stake owned by Alexander Melnik, Vedomosti Daily reports. Ilyumzhinov plans to buy 100% of Petrol and is currently engaged in negotiations with another shareholder Mitko Sabev, who holds a 47.5% stake.

The cost of the deal has Read the rest of this entry »