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==Ownership history== |
==Ownership history== |
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The original owner of |
The original owner of PhosAgro's assets (most notably [[Apatit]], a Soviet-era mining company) was exiled Russian billionaire [[Mikhail Khodorkovsky]] via his company, [[Menatep]]. In 2003, Khodorkovsky was arrested for tax evasion and fraud; the charges against him were ostensibly connected to Menatep's purchase of shares in Apatit. However, some have seen the charges as punishment for publicly clashing with [[Vladimir Putin]].<ref>{{Cite news|url=https://www.newyorker.com/magazine/2015/06/01/house-of-secrets|title=London's Most Mysterious Mansion|last=Caesar|first=Ed|date=2015-05-23|access-date=2019-11-18|language=en|issn=0028-792X}}</ref> <ref>{{Cite web |title=The roublemaker |url=https://www.telegraph.co.uk/comment/personal-view/3608862/The-roublemaker.html |access-date=2022-06-11 |website=www.telegraph.co.uk}}</ref><ref>{{Cite web |date=2005-06-01 |title=Editorial: A Verdict Under Shadow |url=https://www.arabnews.com/node/267837 |access-date=2022-06-11 |website=Arab News |language=en}}</ref><ref>{{Cite web |title=Oligarch? No, I'm just an oil magnate... {{!}} Business {{!}} The Guardian |url=https://amp.theguardian.com/business/2000/jun/04/theobserver.observerbusiness13 |access-date=2022-06-11 |website=amp.theguardian.com}}</ref><ref>{{Cite journal |last=Wolosky |first=Lee S. |date=2000 |title=Putin's Plutocrat Problem |url=https://www.jstor.org/stable/20049638 |journal=Foreign Affairs |volume=79 |issue=2 |pages=18–31 |doi=10.2307/20049638 |jstor=20049638 |issn=0015-7120}}</ref> |
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During Khordorkovsky's trial, the state seized Menatep's stake in Apatit.<ref>{{Cite news|url=https://www.reuters.com/article/russia-phosagro-apatit-idUSL6E8K53WS20120905|title=Phosagro buys stake to secure fertiliser component supplier|date=2012-09-05|work=Reuters|access-date=2019-11-17|language=en}}</ref> In 2004, [[Andrey Guryev]], who at the time ran Apatit on behalf of |
During Khordorkovsky's trial, the state seized Menatep's stake in Apatit.<ref>{{Cite news|url=https://www.reuters.com/article/russia-phosagro-apatit-idUSL6E8K53WS20120905|title=Phosagro buys stake to secure fertiliser component supplier|date=2012-09-05|work=Reuters|access-date=2019-11-17|language=en}}</ref> In 2004, [[Andrey Guryev]], who at the time ran Apatit on behalf of Khodorkovsky's Menatep and was also a Russian senator, wrote a message to Khodorkovsky in prison to convince him to sell his remaining 50% stake in PhosAgro to Guryev. Khodorkovsky sold his shares to Guryev for a low price.<ref name=":0">{{Cite news|url=https://www.newyorker.com/magazine/2015/06/01/house-of-secrets|title=London's Most Mysterious Mansion|last=Caesar|first=Ed|date=2015-05-23|access-date=2019-11-17|language=en|issn=0028-792X}}</ref> |
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In July 2011, |
In July 2011, PhosAgro raised $538 million in a London IPO.<ref>{{Cite news|url=https://uk.reuters.com/article/uk-phosagro-idUKTRE76C1OE20110713|title=Phosagro raises $538 million in London IPO|date=2011-07-13|work=Reuters|access-date=2019-11-18|language=en}}</ref> |
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In 2012, |
In 2012, PhosAgro paid $344 million at a state tender to buy back a 26.7% share in Apatit, bringing the company's ownership to 76%.<ref>{{cite news|url=https://www.ft.com/content/fab75c17-fe49-3651-a37e-710b9f328f64|title=Corporate watch: an appetite for Apatit|newspaper=[[Financial Times]]|language=en-GB|access-date=2019-11-17}}</ref> |
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As of 2012, [[Andrey Guryev]] and his family owned 5.47% of |
As of 2012, [[Andrey Guryev]] and his family owned 5.47% of PhosAgro via various trusts.<ref>{{Cite web|url=https://www.ft.com/content/fab75c17-fe49-3651-a37e-710b9f328f64|title=Corporate watch: an appetite for Apatit|newspaper=[[Financial Times]]|language=en-GB|access-date=2019-11-18}}</ref> |
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PhosAgro is 19.35% owned by [[Vladimir Litvinenko]],<ref name="Phosagro.ru">{{cite web|url=https://www.phosagro.com/investors/capital/ |title=Shareholder Information |publisher=PhosAgro |accessdate=February 27, 2018}}</ref> who oversaw [[Vladimir Putin]]'s [[Plagiarism|plagiarized]] [[doctoral thesis]] in 1996.<ref name=cdi.org>{{cite web|url=http://www.cdi.org/russia/johnson/2006-78-3a.cfm|title=It All Boils Down to Plagiarism|publisher=Cdi.org|date=2006-03-31|accessdate=2010-03-02|url-status=dead|archiveurl=https://web.archive.org/web/20090806181040/http://www.cdi.org/russia/johnson/2006-78-3a.cfm|archivedate=2009-08-06}} Clifford Gaddy: "Mr. Litvinenko -- who was directly involved in the dissertation, allegedly helped [Putin] choose the topic and was more or less the advisor for the dissertation -- is himself a member of the higher accreditation commission, which is the government-appointed body to be the watchdog over standards about degree-granting, dissertations and quality control for higher education in Russia. So it's extra scandalous that he would be involved in this case of, at minimum, shoddiness and plagiarism, possibly something worse, which would be the literal purchase, either by money or political influence, of a dissertation by someone who didn't actually do the work. That second point is not clear. I don't have proof about that. All I have is proof about the plagiarism."</ref><ref name=":0" /> |
PhosAgro is 19.35% owned by [[Vladimir Litvinenko]],<ref name="Phosagro.ru">{{cite web|url=https://www.phosagro.com/investors/capital/ |title=Shareholder Information |publisher=PhosAgro |accessdate=February 27, 2018}}</ref> who oversaw [[Vladimir Putin]]'s [[Plagiarism|plagiarized]] [[doctoral thesis]] in 1996.<ref name=cdi.org>{{cite web|url=http://www.cdi.org/russia/johnson/2006-78-3a.cfm|title=It All Boils Down to Plagiarism|publisher=Cdi.org|date=2006-03-31|accessdate=2010-03-02|url-status=dead|archiveurl=https://web.archive.org/web/20090806181040/http://www.cdi.org/russia/johnson/2006-78-3a.cfm|archivedate=2009-08-06}} Clifford Gaddy: "Mr. Litvinenko -- who was directly involved in the dissertation, allegedly helped [Putin] choose the topic and was more or less the advisor for the dissertation -- is himself a member of the higher accreditation commission, which is the government-appointed body to be the watchdog over standards about degree-granting, dissertations and quality control for higher education in Russia. So it's extra scandalous that he would be involved in this case of, at minimum, shoddiness and plagiarism, possibly something worse, which would be the literal purchase, either by money or political influence, of a dissertation by someone who didn't actually do the work. That second point is not clear. I don't have proof about that. All I have is proof about the plagiarism."</ref><ref name=":0" /> |
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==United Kingdom controversy== |
==United Kingdom controversy== |
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In June 2017, Igor Sychev, a former head of tax department |
In June 2017, Igor Sychev, a former head of PhosAgro's tax department, presented a claim against PhosAgro to the London High Court of Justice. In his claim he demanded 1% of the company's shares or their value in cash (approximately $55 million, and also $8 million in cash to serve as his remuneration for having previously defended PhosAgro interests in court).<ref name="Ein News">{{cite web |url=https://www.barchart.com/story/futures/quotes/ZCZ17/news/15392/igor-sychev-i-couldnt-achieve-any-justice-in-russia |title=I Couldn't Achieve Any Justice In Russia |publisher=Ein News |website=Barchart.com |accessdate=November 13, 2017 |archive-url=https://web.archive.org/web/20180228041211/https://www.barchart.com/story/futures/quotes/ZCZ17/news/15392/igor-sychev-i-couldnt-achieve-any-justice-in-russia |archive-date=2018-02-28 |url-status=dead }}</ref> |
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According to Sychev's statement, the conflict started after he didn't receive the agreed remuneration for defending |
According to Sychev's statement, the conflict started after he didn't receive the agreed remuneration for defending PhosAgro's interests in court. |
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The defendants in the London court case are Andrey Guryev, PhosAgro's Vice |
The defendants in the London court case are Andrey Guryev, PhosAgro's Vice President of the board of directors, and another member of the board, Igor Antoshin, together with some offshore companies based in Seychelles and Belize. A London judge has given permission to open proceedings against the defendants.<ref>{{Cite web|url=https://eutoday.net/news/business-economy/2017/putins-russia-one-mans-story-of-corruption-persecution|title=Putin's Russia: One Man's Story Of Corruption & Persecution - EU Today|last=Redefyne|website=eutoday.net|language=en-US|access-date=2019-11-18}}</ref> |
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In October 2019, another lawsuit was launched against |
In October 2019, another lawsuit was launched against PhosAgro in the London High Court. Alexander Gorbachev, a Russian businessman and former senior executive at PhosAgro, is suing the company for what he alleges is his rightful share of the business, a stake that is worth £1 billion at today's market value. The full trial will be heard in the High Court in 2020-2021.<ref>{{Cite web|url=https://www.afp.com/en/news/1316/billion-pound-dispute-over-ownership-lse-listed-russian-company-launches-uk-court-judge-rules-oligarch-was-correctly-served-legal-papers-prepared-fieldfisher-llp-london-street-201910180050111|title=Billion-pound dispute over ownership of LSE-listed Russian company launches in UK court, as Judge rules that oligarch was correctly served legal papers, prepared by Fieldfisher LLP, in London street|website=AFP.com|date=17 April 2012 |language=en|access-date=2019-11-18}}</ref> |
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==References== |
==References== |
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Revision as of 00:58, 7 July 2024
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Native name | ОАО «ФосАгро» |
|---|---|
| Company type | Public (OAO) |
| MCX: PHOR LSE: PHOR | |
| Industry | Chemical |
| Founded | 2003 |
| Headquarters | Moscow, Russia |
Key people | Xavier R. Rolet KBE,(Chairman) Andrey A. Guryev, (CEO) |
| Products | Fertilizer |
| Revenue | $5.71 billion[1] (2021) |
| $2.23 billion[1] (2021) | |
| $1.76 billion[1] (2021) | |
| Total assets | $5.51 billion[1] (2021) |
| Total equity | $2.24 billion[1] (2021) |
Number of employees | 5,001 |
| Website | www.phosagro.com |
PhosAgro is a Russian chemical holding company producing fertilizer, phosphates and feed phosphates. The company is based in Moscow, Russia, and its subsidiaries include Apatit, a company based in the Murmansk Region and engaged in the extraction of apatite rock. The company is Europe's largest producer of phosphate-based fertilisers.
Ownership history
The original owner of PhosAgro's assets (most notably Apatit, a Soviet-era mining company) was exiled Russian billionaire Mikhail Khodorkovsky via his company, Menatep. In 2003, Khodorkovsky was arrested for tax evasion and fraud; the charges against him were ostensibly connected to Menatep's purchase of shares in Apatit. However, some have seen the charges as punishment for publicly clashing with Vladimir Putin.[2] [3][4][5][6]
During Khordorkovsky's trial, the state seized Menatep's stake in Apatit.[7] In 2004, Andrey Guryev, who at the time ran Apatit on behalf of Khodorkovsky's Menatep and was also a Russian senator, wrote a message to Khodorkovsky in prison to convince him to sell his remaining 50% stake in PhosAgro to Guryev. Khodorkovsky sold his shares to Guryev for a low price.[8]
In July 2011, PhosAgro raised $538 million in a London IPO.[9]
In 2012, PhosAgro paid $344 million at a state tender to buy back a 26.7% share in Apatit, bringing the company's ownership to 76%.[10]
As of 2012, Andrey Guryev and his family owned 5.47% of PhosAgro via various trusts.[11]
PhosAgro is 19.35% owned by Vladimir Litvinenko,[12] who oversaw Vladimir Putin's plagiarized doctoral thesis in 1996.[13][8]
In 2022, the company's revenue amounted to 164 billion rubles.[14]
Subsidiaries
- Apatit
- Ammophos
- Cherepovetsky Azot
- BMU (Balakovskyie Mineralnyie Udobrenia)
- PhosAgro-Trans it is planned to rename all these companies with the names of the owners
Carbon footprint
PhosAgro reported Total CO2e emissions (Direct + Indirect) for 31 December 2020 at 5,961 Kt (+113/+1.9% y-o-y).[15] There is little evidence of a consistent declining trend as yet.[citation needed]
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 |
|---|---|---|---|
| 3,971[16] | 5,971[17] | 5,848[18] | 5,961[15] |
United Kingdom controversy
In June 2017, Igor Sychev, a former head of PhosAgro's tax department, presented a claim against PhosAgro to the London High Court of Justice. In his claim he demanded 1% of the company's shares or their value in cash (approximately $55 million, and also $8 million in cash to serve as his remuneration for having previously defended PhosAgro interests in court).[19]
According to Sychev's statement, the conflict started after he didn't receive the agreed remuneration for defending PhosAgro's interests in court.
The defendants in the London court case are Andrey Guryev, PhosAgro's Vice President of the board of directors, and another member of the board, Igor Antoshin, together with some offshore companies based in Seychelles and Belize. A London judge has given permission to open proceedings against the defendants.[20]
In October 2019, another lawsuit was launched against PhosAgro in the London High Court. Alexander Gorbachev, a Russian businessman and former senior executive at PhosAgro, is suing the company for what he alleges is his rightful share of the business, a stake that is worth £1 billion at today's market value. The full trial will be heard in the High Court in 2020-2021.[21]
References
- ^ a b c d e "4Q and FY 2021 Financial Statements" (PDF). PhosAgro. 10 February 2022. p. 52. Retrieved 10 February 2022.
- ^ Caesar, Ed (2015-05-23). "London's Most Mysterious Mansion". ISSN 0028-792X. Retrieved 2019-11-18.
- ^ "The roublemaker". www.telegraph.co.uk. Retrieved 2022-06-11.
- ^ "Editorial: A Verdict Under Shadow". Arab News. 2005-06-01. Retrieved 2022-06-11.
- ^ "Oligarch? No, I'm just an oil magnate... | Business | The Guardian". amp.theguardian.com. Retrieved 2022-06-11.
- ^ Wolosky, Lee S. (2000). "Putin's Plutocrat Problem". Foreign Affairs. 79 (2): 18–31. doi:10.2307/20049638. ISSN 0015-7120. JSTOR 20049638.
- ^ "Phosagro buys stake to secure fertiliser component supplier". Reuters. 2012-09-05. Retrieved 2019-11-17.
- ^ a b Caesar, Ed (2015-05-23). "London's Most Mysterious Mansion". ISSN 0028-792X. Retrieved 2019-11-17.
- ^ "Phosagro raises $538 million in London IPO". Reuters. 2011-07-13. Retrieved 2019-11-18.
- ^ "Corporate watch: an appetite for Apatit". Financial Times. Retrieved 2019-11-17.
- ^ "Corporate watch: an appetite for Apatit". Financial Times. Retrieved 2019-11-18.
- ^ "Shareholder Information". PhosAgro. Retrieved February 27, 2018.
- ^ "It All Boils Down to Plagiarism". Cdi.org. 2006-03-31. Archived from the original on 2009-08-06. Retrieved 2010-03-02. Clifford Gaddy: "Mr. Litvinenko -- who was directly involved in the dissertation, allegedly helped [Putin] choose the topic and was more or less the advisor for the dissertation -- is himself a member of the higher accreditation commission, which is the government-appointed body to be the watchdog over standards about degree-granting, dissertations and quality control for higher education in Russia. So it's extra scandalous that he would be involved in this case of, at minimum, shoddiness and plagiarism, possibly something worse, which would be the literal purchase, either by money or political influence, of a dissertation by someone who didn't actually do the work. That second point is not clear. I don't have proof about that. All I have is proof about the plagiarism."
- ^ "ПАО "Фосагро"". www.rusprofile.ru (in Russian). Retrieved 2023-12-26.
- ^ a b "PhosAgro's Sustainability Report for 2020Q4" (PDF). Archived from the original (PDF) on June 27, 2021. Alt URL
- ^ "PhosAgro's Sustainability Report for 2018Q4" (PDF). Archived from the original (PDF) on September 30, 2021. Alt URL
- ^ "PhosAgro's Sustainability Report for 2020Q4" (PDF). Archived from the original (PDF) on June 27, 2021. Alt URL
- ^ "PhosAgro's Sustainability Report for 2020Q4" (PDF). Archived from the original (PDF) on June 27, 2021. Alt URL
- ^ "I Couldn't Achieve Any Justice In Russia". Barchart.com. Ein News. Archived from the original on 2018-02-28. Retrieved November 13, 2017.
- ^ Redefyne. "Putin's Russia: One Man's Story Of Corruption & Persecution - EU Today". eutoday.net. Retrieved 2019-11-18.
- ^ "Billion-pound dispute over ownership of LSE-listed Russian company launches in UK court, as Judge rules that oligarch was correctly served legal papers, prepared by Fieldfisher LLP, in London street". AFP.com. 17 April 2012. Retrieved 2019-11-18.
External links
Media related to PhosAgro at Wikimedia Commons- Official website
- PhosAgro on Facebook
- PhosAgro on Twitter
- PhosAgro's channel on YouTube
- Website of Igor Sychev
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