Cyprus firm's 25% of Pavlovskgranit

A Cypriot-based offshore company has secured 25% of Russia’s 3672 Pavlovskgranit.

3738 Sberbank Capital transferred the stake to Nisoram Holding after the company obtained a legal order compelling Pavlovskgranit to hold an extraordinary shareholders' meeting, set to include the election of a new board of directors.

Insiders claim Nisoram Holding may be affiliated with Yury Zhukov, the owner of National Nonmetalic Company. One Sberbank Capital source said the stake was transferred to the Cypriot firm for its convenient storage.

Pavlovskgranit is among interests of the bank, a field-oriented investor may be attracted in the future. Sberbank Capital received 36.37% in Pavlovskgranit in summer of 2011. This stake was pledged for a loan of €121.8million drawn by the company in 2008.