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russians ride to rescue of MV

The key name in MV Agusta’s new investment partner is Timur Sardarov, because it’s his family’s money behind Black Ocean and the Ocean Group. To all intents and purposes, these are a Russian entities, writes BDN financial editor Roger Willis.

Timur, picture from his LinkedIn profile, is the son of Rashid Sardarov, a secretive multi-billionaire Russian oligarch who was mysteriously transformed into an oil and gas magnate by former State assets that suddenly came into his possession as the USSR’s communism regime collapsed in 1991. A 2011 estimate of his personal wealth was £3.97bn. The holding company for his energy business is South Ural Industrial. He was born in the Soviet Socialist Republic of Dagestan, in the North Caucasus.

A personal friend of Russian president Vladimir Putin, 61-year-old Sardarov once paid Robbie Williams £1.6m to sing at his daughter’s wedding — an event upon which he lavished a reported £8m. He featured heavily in the controversial  “Panama Papers” revealing illegal activities of Panama-based offshore company formation specialist Mossack Fonseca. This firm of lawyers set up a series of “blind” companies without identifiable ownership for Sardarov, which were used to purchase vast tracts of bushland in Namibia for big-game hunting.

Black Ocean chief executive Oliver Ripley was recently photographed by paparazzi working for Daily Mail Online on board Rashid Sardarov’s superyacht in the Mediterranean, along with Ripley’s girlfriend, a well-known Portuguese lingerie model.

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