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词条 LetterOne
释义

  1. Major assets

  2. Sectors and Investment

     L1 Energy  Private equity  Pamplona Capital Management 

  3. Board of directors

  4. See also

  5. References

{{Use dmy dates|date=October 2017}}{{COI|date=December 2016}}{{Infobox company
| name = LetterOne Group
| formerly =
| logo =
| type = Private
| genre =
| foundation = {{Start date and age|2013}}
| founder =
| location = Luxembourg
| locations =
| area_served =
| key_people = Mikhail Fridman, Chairman
| industry = Investment
| products =
| services =
| revenue =
| operating_income =
| net_income =
| owner =
| num_employees =
| parent =
| divisions =
| subsid =
| caption =
| homepage = [https://www.letterone.com/ www.letterone.com]
| footnotes =
}}The LetterOne Group (LetterOne) is an international investment business based in Luxembourg. Its investments are focused on the telecoms, technology and energy sectors through its two main business units, L1 Energy and L1 Technology. Businessman Mikhail Fridman set up LetterOne in 2013 as part of a broader new investment vehicle using the proceeds from the sale of TNK-BP.[1]

Major assets

As of 31 December 2014 assets managed by LetterOne amounted to approximately $25bn. The sources of these assets are funds from the sale of TNK-BP, but also from assets invested in prior to the L1 Group’s formation. These include VimpelCom, Turkcell and private equity investments. The company has announced plans to invest in global oil, gas, telecoms and technology sectors.[2]

On 4 March 2015, the Secretary of State for Energy and Climate Change, Ed Davey, gave Fridman a one-week deadline to convince the UK government not to force him to sell the newly acquired North Sea oil and gas assets.[3] A senior western oil executive said the UK was entering "uncharted territory" by intervening publicly in a corporate transaction over fears of the effect of future sanctions against Russia.[4]

In October 2015 LetterOne sold its North Sea Oil fields to Ineos, the chemical company, for an undisclosed sum.[5] The Financial Times has since reported that LetterOne has been told in a letter from a senior Government official that the previous Energy Secretary’s decision to require the sale of the North Sea fields ‘is not a judgement on the suitability of LetterOne’s owners to control these or any other assets in the UK.[6]

On 14 October LetterOne Group announced that it had agreed a deal to acquire German utility Eon’s interests in three producing Norwegian fields, located in the North Sea. Norway’s oil minister said that approval would be handled ‘in the usual way’[7]

Sectors and Investment

The two main business units, L1 Energy and L1 Technology are supported by L1 Treasury Services, which managed the group’s liquidity and financial investments, including private equity holdings. LetterOne currently invests through strategic equity holdings in listed companies, or through the ownership of private companies. Lord Browne is the Executive Chairman of L1 Energy.[8]

L1 Energy

L1 Energy is an oil and gas investment company controlled by the Russian billionaire Mikhail Fridman, through Alfa Group, and chaired by Lord Browne.[9]

On 2 March 2015, it was announced that Lord Browne was the Executive Chairman, and would be renouncing his other roles to build a major new oil and gas company from scratch.[10]

Private equity

Pamplona Capital Management

LetterOne invests extensively via its participation in Pamplona private equity funds.[11] Pamplona is a specialist investment manager that provides an alternative investment platform across private equity, fund of hedge funds and single manager hedge fund investments. They manage assets for a variety of clients including public pension funds, international wealth managers, multinational corporations, family offices and funds of hedge funds.[12]

Board of directors

The board of directors of the L1 Group is the company’s highest decision making body and is responsible for setting the investment strategy and making investment decisions.

  • Mikhail Fridman is the founder and chairman of the board.
  • Lord Davies of Abersoch is the non-executive deputy chairman.
  • German Khan, Alexey Kuzmichev, Petr Aven, Andrei Kosogov, Jonathan Muir, David Gould and Pavel Nazariyan are board members.
  • Carl Bildt is the adviser to the board.

See also

  • Indigo Era (economics)

References

1. ^{{cite web|title=Fridman may sell North Sea assets|url=http://www.thetimes.co.uk/tto/business/industries/naturalresources/article4384991.ece|website=The Times}}
2. ^{{cite web|title=Fridman's Alfa Group sets up energy fund, to invest $20 bln|url=https://www.reuters.com/article/2013/06/17/alfa-energy-idUSL5N0ET16Y20130617|website=Reuters}}
3. ^{{cite news|title=Russian oligarch Mikhail Fridman given North Sea deadline|url=https://www.bbc.co.uk/news/business-31739727|publisher=BBC}}
4. ^{{cite news|title=Downing Street behind challenge to Mikhail Fridman’s North Sea deal|url=http://www.ft.com/cms/s/0/656d7e24-c1c4-11e4-abb3-00144feab7de.html#axzz3fCzpcgSv|publisher=Financial Times}}
5. ^{{cite web|title=Billionaire Jim Ratcliffe snaps up North Sea oil fields|url=https://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11925169/Billionaire-Jim-Ratcliffe-snaps-up-North-Sea-oil-fields.html}}
6. ^{{cite web|title=Ineos targets further North Sea assets in wake of $750m deal|url=http://www.ft.com/cms/s/2d178112-7008-11e5-9b9e-690fdae72044,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F2d178112-7008-11e5-9b9e-690fdae72044.html&_i_referer=&classification=conditional_standard&iab=barrier-app#axzz3uxC5UJg2|publisher=Financial Times}}
7. ^{{cite news|title=Russia’s Fridman spends $1.6bn on Norwegian oil and gas fields|url=http://www.ft.com/cms/s/28f32d9a-7254-11e5-bdb1-e6e4767162cc,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F28f32d9a-7254-11e5-bdb1-e6e4767162cc.html&_i_referer=&classification=conditional_standard&iab=barrier-app#axzz3uxC5UJg2|publisher=FTinancial Times}}
8. ^{{cite web|title=Lord Browne to chair Russian tycoon's energy group|url=http://www.ft.com/fastft/284943/lord-brown-chair-russian-tycoons-energy-group}}
9. ^{{cite news|title=Browne makes dealmaking comeback|url=http://www.ft.com/cms/s/0/96c9143e-be94-11e4-8036-00144feab7de.html#axzz3xhOg0XGJ|publisher=Financial Times}}
10. ^{{cite news|title=Ex-BP boss aims to build major energy industry player from scratch|url=https://www.theguardian.com/politics/2015/mar/08/ex-bp-boss-aims-to-build-major-energy-industry-player-from-scratch|publisher=The Guardian}}
11. ^{{cite web|title=A Russian American invests in Europe|url=http://rbth.co.uk/business/2013/07/12/a_russian_american_invests_in_europe_27997.html}}
12. ^{{cite web|title=Company Overview of Pamplona Capital Management LLP|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=25220022}}

3 : Companies established in 2013|Investment companies|Investment companies of Luxembourg

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