Alexander Ponomarenko Assets of $2.6 B -Insights of NCSP, Russian General Bank, Sheremetyevo International Airport
Overview of Alexander Ponomarenko
- Alexander Ponomarenko serves as the chairperson of the board of the largest airport in Russia, Sheremetyevo.
The EU and the United Kingdom imposed sanctions on Ponomarenko in March 2022; he has contested the sanctions.
Following a foray into banking and seaports, Ponomarenko and his business associate Alexander Skorobogatko transitioned to airport construction. - Together with Arkady Rotenberg, a judo partner of President Vladimir Putin, the two secured a contract in 2013 to construct the state-owned airport of Sheremetyevo.
- Additionally, Rotenberg and the partners established TPS Real Estate, which presently possesses over 50% of the real estate in Ocean Plaza, the preeminent retail center in Kiev.
- He received a sanction from the European Union in February 2022, the United Kingdom in March 2022, and the United States in August 2022.
Diverse Portfolio of Alexander Ponomarenko assets
Alexander Ponomarenko boasts a diverse array of assets, spanning banking, seaports, commercial real estate, and airport construction. Currently, he holds the position of Chairman of the Board of Directors at Sheremetyevo International Airport, the largest airport in Russia.
Beyond his professional ventures, Ponomarenko owns two opulent mansions in Saint-Jean-Cap-Ferrat, a charming town on the French Riviera. Acquired in 2008 at a cost of approximately $134 million, these residences reflect his taste for luxury.
In the realm of real estate development, Ponomarenko made headlines with the acquisition of a residence rumored to be constructed for the exclusive use of Russian President Vladimir Putin. This palace, purchased for $89 million in 2008, adds a unique dimension to his real estate portfolio.
However, a significant turn of events occurred in March 2022 when the European Union and the United Kingdom imposed sanctions, resulting in the freezing of Ponomarenko’s assets. This development has undoubtedly added a complex layer to his financial landscape.
Novorossiysk Commercial Sea Port (NCSP)
Alexander Ponomarenko’s extensive portfolio features the Novorossiysk Commercial Sea Port (NCSP), a pivotal asset in his business ventures. NCSP Group, operating the Port of Novorossiysk on the Black Sea coast, stands as Europe’s third-largest port operator for cargo turnover and dominates the Russian market.
Headquartered in Novorossiysk, the company oversees the Port of Novorossiysk, along with the Baltic ports of Primorsk and Baltiysk. In 2019, NCSP Group’s cargo turnover reached an impressive 142.5 million tons, translating to a consolidated revenue of $951.3 million according to IFRS standards.
Functioning as a crucial gateway for Russia’s import and export trade, the port claimed a substantial 17% market share of the total cargo turnover at Russian seaports in 2019. NCSP Group’s diverse range of stevedoring services encompasses the shipment of oil and oil products, various liquid cargoes, dry bulk cargoes, and general cargo.
A major force in transporting crude oil and dry cargo like metals, cement, sugar, grain, and containers, NCSP Group plays a vital role in the global logistics landscape. Despite its significance, it’s noteworthy that the Novorossiysk Commercial Sea Port faced sanctions from the EU in March 2022.
More about Novorossiysk Commercial Sea Port (NCSP)
A. Founding Ventures
In the late 1980s, Ponomarenko and Skorobogatko initiated a venture in Crimea, focusing on perfume products and building materials. Transitioning to Moscow, they established the Russian General Bank in 1996.
B. Capitalizing on Crisis
Post-the 1998 Russian financial crisis, Ponomarenko and Skorobogatko seized the opportunity, acquiring shares in cargo companies at a fraction of their value. This strategic move formed the foundation of Novorossiysk Commercial Sea Port (NCSP), ultimately evolving into Russia’s largest seaport.
C. Landmark IPO in 2007
In 2007, NCSP marked a pivotal moment with its initial public offering, unveiling 19.3% of total equity on the London Stock Exchange and raising an impressive $955 million.
D. Shifting Stakes in 2008
In 2008, Ponomarenko and Skorobogatko made a strategic move, selling a 20% stake in their business holdings to Arkady Rotenberg. Rotenberg, a prominent figure with close ties to Russian Prime Minister Vladimir Putin, entered the scene.
E. Major Sale in 2011
The dawn of 2011 witnessed a significant development as the majority stake of NCSP was acquired by Summa Capital and Transneft for a staggering $2.5 billion.
These milestones illuminate Ponomarenko’s instrumental role in conceiving, expanding, and ultimately orchestrating the sale of Novorossiysk Commercial Sea Port—a cornerstone in his entrepreneurial journey.
Russian General Bank
Founded in 1996 by Alexander Ponomarenko and his partner Alexander Skorobogatko, the Russian General Bank played a pivotal role in serving the Novorossiysk Sea Trading Port. Following the 1998 crisis, the duo strategically acquired shares in stevedoring companies operating at the port, consolidating them into the formidable Novorossiysk Commercial Sea Port (NCSP). This move culminated in a lucrative public offering in 2007, yielding a substantial $1 billion windfall for the partners.
In 2006, Ponomarenko orchestrated a notable transaction by selling the Russian General Bank to Hungary’s OTP Bank for $477 million. As the largest commercial bank in Hungary and a prominent financial service provider in Central and Eastern Europe, OTP Bank’s acquisition marked a significant chapter in Ponomarenko’s business journey. This event underscored his prowess in the banking sector and showcased the strategic acumen that defines his entrepreneurial career.
Sheremetyevo International Airport
Sheremetyevo International Airport, also known as Alexander S. Pushkin International Airport, stands proudly 29 kilometers northwest of Moscow, Russia. Among Moscow’s trio of major airports, alongside Domodedovo International Airport and Vnukovo, Sheremetyevo is a bustling hub with four passenger terminals and an exclusive space catering to private and business aviation.
In 2018, the airport marked a noteworthy financial stride, reporting revenues of €194.9 million, a commendable 6% year-over-year increase. Profits soared by 7.4% in the same period, attributed in part to heightened air traffic during the 2018 FIFA World Cup hosted at the airport.
Sheremetyevo’s commitment to customer service earned accolades from ACI’s global Airport Service Quality (ASQ) program in 2018, securing the title for the best customer service among Europe’s busiest airports. The airport’s stellar performance propelled it into the esteemed list of the world’s best airports – the ACI Director General’s Roll of Excellence.
Continuing its excellence, Sheremetyevo clinched the title of the best airport for service quality in 2020 among airports, with 2019 passenger traffic exceeding 40 million. Notably, it led the rankings for the third time in the category of the largest airports in Europe by the end of 2020.
Driving Sheremetyevo’s success is Alexander Ponomarenko, who serves as Chairman of the Board of Directors. His strategic acumen and leadership have been instrumental in the airport’s growth and global recognition. Ponomarenko’s imprint on Sheremetyevo extends beyond its runways, symbolizing a testament to visionary decision-making in the aviation industry.
Real Estate Development
Alexander Ponomarenko has played a key role in real estate development, overseeing the creation and management of expansive shopping and entertainment centers. His company efficiently manages a real estate portfolio valued at $1 billion.
As the Chairman of the Board of Directors at Sheremetyevo International Airport, Russia’s largest airport, Ponomarenko has demonstrated his leadership in the aviation sector.
In the realm of real estate, Ponomarenko founded TPS Real Estate Holding, a venture dedicated to investing in the construction and operation of cutting-edge shopping and entertainment complexes. In 2013, he extended his influence by establishing TPS Avia Holding, focusing on infrastructure development at Moscow’s Sheremetyevo International Airport.
Notable among his real estate endeavors:
- TPS Real Estate: Ponomarenko, in collaboration with partners, formed TPS Real Estate Holding LTD, successfully raising an impressive $15.5 billion in investment capital.
- Sheremetyevo International Airport: Heading the Board of Directors, Ponomarenko has actively participated in the airport’s infrastructure development initiatives.
- Luxury Properties: Ponomarenko possesses two expansive villas sprawled across 170,000 square feet in Saint-Jean-Cap-Ferrat on the French Riviera. However, there have been issues with these properties because French authorities have frozen them as part of their sanctions against him.
The luxury mansions of Alexander Ponomarenko
Alexander Ponomarenko owns two expansive villas spanning 170,000 square feet in Saint-Jean-Cap-Ferrat, situated on the coveted French Riviera. With an estimated value of around $176 million, these properties attract Hollywood celebrities, royals, and tech magnates due to their prime location.
Despite their prestige, French authorities have frozen Ponomarenko’s villas as part of sanctions against him. Notably, Ponomarenko’s partner, Natalia Rozhkova, holds a 95% stake in the French company SCI La Chabanne Project, the legal owner of the villas, while Ponomarenko serves as a director at the firm.
In a transaction shrouded in secrecy, Ponomarenko sold the villas to SCI La Chabanne Project in 2015 for an undisclosed sum. This move adds an intriguing layer to the narrative, highlighting the complex web of ownership and financial dealings surrounding these luxurious assets.
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