Date: 6 months ago   Category: Industry

The board of directors of En Holding has approved the decision on transition to the Russian jurisdiction — Rambler News Service


The board of directors of En Holding Limited has approved a redomitsilyation (a procedure for replacement of the legal address of the company from one jurisdiction on another) En Holding Limited (100% "daughter" of the En group) from the Republic of Cyprus to the Russian Federation, has reported group. "This decision has been made after entry into force on August 6, 2018 in the Russian Federation of the law on special administrative regions which provides conditions for transfer of a place of registration of a number not of the Russian companies to Russia" — it is said in the statement. Optimization of structure of property will provide still big transparency according to a global trend in decrease in dependence on practice of offshore corporate management, consider in the company. The board of directors also has charged to management to carry out the additional analysis of a possible redomitsilyation of the company to Russia according to the new legislation of the Russian Federation. The company doesn't disclose terms of the transfer of En Holding Limited in the Russian jurisdiction. Earlier it was reported that the Ministry of Finance of the USA has imposed on April 6 sanctions against the Russian 24 physical and 14 legal entities. I have fallen under sanctions, including, the businessman Oleg Deripaska and the companies under control to him — En Group, GAZ Group, Basic Element, RUSAL. Later in the USA have specified that sanctions can be partially removed from RUSAL on condition of refusal of the businessman of control in the company. At the end of July Deripaska has left the board of directors of En. En Holding Limited is the holding company of a power segment of group.

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