LetterOne
| LetterOne Holdings SA
|
|
|---|---|
 |
|
| legal form | Société anonyme |
| founding | 2013 |
| Seat |
Luxembourg , Luxembourg
|
| management |
|
| Branch | Investment |
| Website | www.letterone.com |
| Letterone Investment Holdings SA
|
|
|---|---|
|
|
|
| legal form | Société anonyme |
| Seat |
Luxembourg , Luxembourg
|
| management |
|
| Branch | Investment |
| Website | www.letterone.com |
LetterOne is the name of two companies, LetterOne Holdings and LetterOne Investment Holdings . Both companies have the same shareholders and the same management. The companies are internationally active investment and holding companies based in Luxembourg . Behind it, the main owner is the Alfa Group around the Russian oligarch Michail Fridman , who is also the CEO of both LetterOne.
history
LetterOne was founded in June 2013 by Alfa, whereby the Company to managing a total of 15.36 billion US dollars was entrusted. Much of LetterOne's capitalization came from the sale of Alfa’s shares in TNK-BP .
Takeover of RWE Dea
In March 2013, RWE announced that it wanted to sell its subsidiary DEA . In 2011 DEA's sales were just under two billion euros and earnings before taxes were 553 million euros.
By the beginning of 2014, RWE had received at least three bids in an auction process , one from the L1 Energy division.
On March 16, 2014, RWE announced that they had basically reached an agreement with LetterOne on the sale. RWE Dea was valued at 5.1 billion euros.
On March 30, 2014, it was announced that RWE had signed the contract with the LetterOne group.
Der Spiegel reported on June 15, 2014 that Federal Economics Minister Sigmar Gabriel had ordered a two-month investigation into the deal.
In October, reported Financial Times that the British Energy Minister Ed Davey against the background of stricter sanctions against Russia would not agree to the sale. Despite British concerns, the takeover will likely be booked in 2015. It was agreed with the UK government that the DEA business in Great Britain would be treated separately for several years after the acquisition. In the event of sanctions against Fridman or LetterOne, RWE remains obliged to buy back these shares. As the British government continued to block, the British activities were put up for sale and sold to INEOS in 2015 .
In October 2015, LetterOne also acquired the Norwegian exploration and production business of oil and natural gas from the German E.ON Group. LetterOne paid a total of 1.4 billion euros.
In September 2018, LetterOne and BASF announced that BASF’s oil division, Wintershall , was to be merged with DEA. BASF is to hold 67% and LetterOne 33% of the new Wintershall DEA .
structure
Letter One Holdings SA
Letter One Holdings, with its L1 Energy division, invests mainly in the oil and gas exploration business.
Letter One Investment Holdings SA
- LetterOne Technology
- Letter One Technology manages shares of 13.22% in the Turkish telecommunications provider Turkcell and 47.85% in VimpelCom . Letter One also invested $ 200 million in Uber Technologies .
- LetterOne Treasury
- Letter One Treasury Services invests in various hedge and private equity funds .
- LetterOne Health
- In 2016, Letter One expanded its business to include healthcare.
Individual evidence
- ↑ Alfa Group 2013 Annual Report, at www.alfagroup.org , accessed March 2, 2015
- ^ Mikhail Fridman's Russian Alfa Group Sets Up New Investment Company in London. In: Jewish Business News. June 19, 2013, accessed March 3, 2015 .
- ↑ https://www.weser-kurier.de/deutschland-welt/deutschland-welt-wirtschaft_artikel,-RWEKonzern-stell-Ertragsperle-RWE-Dea-zum-Verkauf-_arid,515440.html
- ↑ RWE receives at least three bids for the Dea oil and gas producer. Wall Street Journal (online) January 22, 2014, archived from the original February 22, 2014 ; accessed on February 12, 2014 .
- ↑ Conclusion targeted for 2014: three interested parties submit offers for RWE subsidiary DEA. n-tv (online), January 17, 2014, accessed February 12, 2014 .
- ↑ Süddeutsche Zeitung : Energie RWE finds buyer for RWE Dea pearl of income ( memento from March 17, 2014 in the Internet Archive ) from March 16, 2014
- ↑ Markets: Sale of RWE Dea to Russian oligarchs sealed. In: Focus Online . March 30, 2014, accessed January 4, 2015 .
- ↑ FAZ.net / dpa-AFX: Gabriel examines RWE Dea sale to Russian oligarchs. In: FAZ.net . June 15, 2014, accessed January 4, 2015 .
- ↑ RWE: British refuse to accept sales of Dea. In: Spiegel Online . October 16, 2014, accessed January 4, 2015 .
- ↑ Despite British concerns, RWE sells Dea to Russia at www.de.reuters.com , accessed on March 2, 2015
- ^ INEOS buys North Sea gas fields , at www.ineos.com , accessed November 22, 2016
- ↑ Deal with Michail Fridman - Eon earns 1.4 billion euros with field sale , on www.handelsblatt.com , accessed on September 6, 2016
- ↑ Wintershall and Dea seal merger - German oil company is perfect , at www.handelsblatt.com , accessed on September 28, 2018
- ↑ L1 Technology , on www.letterone.com , accessed on January 3 2016
- ↑ L1 technology on www.letterone.com , accessed on September 6, 2016
Coordinates: 49 ° 36 '49.4 " N , 6 ° 7' 12.5" E