Millhouse Capital

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Millhouse Capital is a British registered company created in 2001 to manage assets owned by the Russian businessman Roman Abramovich and his partners. Assets under management included major stakes in oil company Sibneft (now Gazprom Neft), Russian Aluminum, Aeroflot Russian Airlines, and RusPromAvto, as well as investments in electricity, pulp and paper processing, insurance and banking.[1]

Millhouse Capital's shareholders sold their 26 percent holding in OAO Aeroflot in 2003[2] and a 50 percent stake in OAO Russian Aluminum (UC RUSAL), now the world's largest aluminum producer, in two deals spanning 2003 and 2004.[3] [4] The sale prices weren't disclosed.

In October 2005, Millhouse Capital sold a 72% stake in Sibneft to Gazprom for more than US$13 billion.[5]

Millhouse Capital was initially based at Abbey House in Weybridge, a large two storey office building on the edge of the St. George’s Hill estate, before moving to Stamford Bridge following Abramovich's acquisition of Chelsea Football Club in 2003. It had a larger representative office in Moscow.

In a reorganization following the sale of Sibneft, the Moscow office of Millhouse Capital was closed and a new company, Moscow-based Millhouse LLC, was formed in April 2006 to manage the assets of Abramovich and his partners. The London office of Millhouse Capital was closed in August 2008 and its functions rolled into a new firm, MHC (Services) Ltd.[6]

References[edit]

  1. ^ "Millhouse Capital to Manage Sibneft Stake and Other Assets". 
  2. ^ "NRB Pins Ilyushin Hopes on Aeroflot Stake". St Petersburg Times. 18 March 2003. Retrieved 1 July 2013. 
  3. ^ "Abramovich Sells 25% in Rusal to Partner Deripaska". Bloomberg. 3 October 2003. Retrieved 1 July 2013. 
  4. ^ "Abramovich set to pocket £1.4bn". Evening Standard. 18 October 2004. Retrieved 1 July 2013. 
  5. ^ "Gazprom purchased 72.663% of Sibneft shares from Millhouse Capital". Gazprom. 21 October 2005. Retrieved 16 April 2012. 
  6. ^ "What does Roman Abramovich own?". Novaya Gazeta. 17 February 2011. Retrieved 1 July 2013.