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Yota takes away the Yakut fuel and energy company
Yota takes away the Yakutsk Fuel and Energy Company (YATEK). This is the last major asset of the arrested Ziyavudin Magomedov. The businessman is accused of organizing a criminal community.
According to RBC, the company A-Property, which is owned by the founder of Yota, takes YATEC for its debts. She will become a new shareholder. It is known that Magomedov has already agreed to the alienation of his share. The price of the property to be disposed of will amount to 16,82 billion rubles or 68% of the book value of YATEC assets (at the end of June this year).
Earlier, A-Property bought up YATEC debts to Sberbank for the total amount of 4,4 billion rubles. The company has a high leverage: total debt is 14 billion rubles, of which 8,6 billion rubles accounted for long-term debt. In addition to loans, YATEC has approximately 1,2 billion rubles of accounts payable. After the arrest of Ziyavudin and Magomed Magomedov at the end of March, YATEK, like most of Summa’s other assets, was seized.