MOSCOW (Reuters) - Russian President Vladimir Putin held a meeting with businessman Viktor Vekselberg on Tuesday at which the two men discussed infrastructure projects Vekselberg's business is involved in, TASS news agency quoted a Kremlin spokesman as saying.
Vekselberg is chairman of the board at Renova holding company, with assets in sectors including metals and mining, utilities, construction and communications. Renova is building an airport in Russia's southern city of Rostov, one of the host cities for the 2018 soccer World Cup.
(Reporting by Katya Golubkova; editing by Christian Lowe)
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In 1979, Viktor Vekselberg is graduated from the Institute of Moscow railway (MIIT). He specializes in systems engineering. He continued his studies at the Computing Centre of the Academy of Sciences of the USSR.
In 1998 he founded with friends a company called KomVek (Kompanie Vekselberg), active in software development and import of used computers. From 1991 to 1996 he was Deputy Director General of ZAO Renova that he founded with Leonard Blavatnik. Two thirds of the shares are held by KomVek and one third is held by the investment fund owned by Access Industries Blavatnik.
In 1996 he participated to the creation of the Siberian-Urals Aluminium Company (SUAL). Conducted by Viktor Vekselberg, the company Renova started buying shares in oil companies, including a majority stake in TNK. A year later, he joined the board of Tyumen Oil Company (TNK), and in April 2002 he became President of TNK.
In January 2003 he was appointed chairman of the board of SUAL-Holding. In February 2006 he announced that the company SUAL is looking for a strategic partner. Negotiations began with its main competitor Rusal, owned by Oleg Deripaska. Rusal and SUAL merged in August 2006. Deripaska received a 75% stake in the new company, while Viktor Vekselberg got 25%. The merged group controls 100% of the Russian aluminum market and creates a monopoly. The new giant has a production capacity of over 4 million tons of aluminum per year.
In October 2006, Rusal and Sual merge with Glencore. The merger is finalized in March 2007 and gave birth to the number one of the aluminum in the world: United Company Rusal. The new group goes public a little over a year later. Russian billionaire Oleg Deripaska became the main shareholder of the new company by receiving a 66% stake. SUAL acquires 22% and Glencore 12%. Vekselberg is chairman of the board of directors of the company.
In April 2007, Vekselberg decides to become the largest shareholder of the investment fund Pallinghurst Resources, operated by Bryan Gilbertson. The fund has acquired the legendary brand Fabergé in 2007. Vekselberg is obsessed with Faberge eggs. He is the biggest collector: in 2004 he bought nine Faberge eggs at an auction and received other items of Fabergé - brooches, snuff boxes... The collection was exhibited in the Kremlin and in Dubrovnik in 2007. Vekselberg made regular donations to foundations and cultural museums in Russia.
Today, the empire of Viktor Vekselberg continues to expand. Recently, the oligarch, who owns 13.7% of OC Oerlikon Zurich Group, announced plans to invest $ 300 million to create the largest hotel chain in Russia. He also manages mining projects in South Africa. According to Forbes, in 2011 th property of the magnate of energy and metallurgy sectors weighed 13 billion.
In March 2010, President Dmitry Medvedev chose Viktor Vekselberg to supervise the "Silicon Valley" near Moscow. This technology center is supposed to ensure the modernization and diversification of the Russian economy based mainly on the exploitation of oil and gas. The project would develop into five areas: energy technology, information technology, telecommunications, nuclear and biomedical technologies.
In March 2012, Viktor Vekselberg resigned as chairman of Rusal.
| Linked companies | |
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Renova Group of Cos.
 Renova Group of Cos. Investment ManagersFinance Renova Group of Cos. provides asset management, portfolio management and investment advice services. The firm makes investments in metals, mining, chemical, construction, transport, energy, telecommunication, high-tech machine building, public utilities and financial sectors. The company was founded in 1990 and is headquartered in Moscow, Russian Federation. | Founder |
Renova Management AG (Switzerland)
 Renova Management AG (Switzerland) Miscellaneous Commercial ServicesCommercial Services Renova Management AG engages in the provision of consulting and investment management services. The company was founded on January 15, 2004 and is headquartered in Zurich, Switzerland. | Chairman |
