Moscow Times 22 May 2013
Russneft CEO Mikhail Gutseriyev paid $20 million for 41 percent of Krasnaya Polyana, which is building a ski resort in Sochi, he said in an interview with the Dozhd television channel, Vedomosti reported Wednesday.
He said a friend of his, Akhmed Bilalov, asked him earlier to buy his brother Magomed Bilalov’s stake in Krasnaya Polyana. Akhmed Bilalov estimated the stake at $80 million to $100 million.
Mikhail Shishkhanov, president of Binbank and Gutseriyev’s nephew, valued the asset at no more than $20 million. When offered that amount, Bilalov agreed.
Read more…
