Ukrainian Law Blog
Freedom means the supremacy of human rights everywhere
Sunday, June 3, 2018
EN+ hires Rothschild to sell down Oleg Deripaska’s stake
Oleg Deripaska’s sanctions-hit energy-to-aluminium group EN+ has hired investment bank Rothschild to sell off part of the Russian oligarch’s controlling stake, as the company races to meet an August 5 deadline to win a reprieve from the US Treasury. US sanctions imposed on Mr Deripaska in April cut him and his entire business empire off from the global banking and commodity trading system, pitching EN+ and his aluminium producer Rusal into crisis. Since then the companies have scrambled to distance themselves from the oligarch in an effort to convince Treasury officials to grant them a waiver that would allow them to continue doing business.
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