Sergei Gordeev has lost his status as the largest shareholder in PIK Group. His stake has fallen to a level that does not allow him to block decisions: he now owns only 15.15% of the company’s shares. A representative of the businessman confirmed this information, adding that some of his shares were sold to a group of Russian investors not subject to sanctions.
Until October 2023, Sergey Gordeev owned 52.49% of PIK Group, when his share was reduced to 32.49%. According to the company’s official statement, he sold 20% of the group’s shares to the closed-end investment fund Institutional Investments in Residential Real Estate Fund No. 1, managed by JSC Central Trust Company, and thus ceased to be PIK’s controlling shareholder.
“Sergey Gordeev’s stake in PIK Group (15.15%) does not really allow him to single-handedly block key decisions taken by a qualified majority (e.g. amendments to the articles of association, reorganisation, liquidation of the company). However, the statement that Gordeev now “cannot really influence the majority of decisions” needs clarification”, comments Andrei Gusev, Senior Partner at Nordic Star, in the Vedomosti article.
The full version of the commentary is available at the link.