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Vladimir Lisin has transferred his stakes in Russia’s biggest steelmaker and a rail freight operator to companies registered in Abu Dhabi, the latest example of a billionaire shifting assets to the oil-rich emirate.
The businessman, who’s worth about $23 billion according to the Bloomberg Billionaires Index, moved his stakes in Novolipetsk Steel PJSC and Freight One JSC from Cyprus to Abu Dhabi special purpose vehicles Serenity II Holdings and Nebula II Holdings, according to a person with knowledge of the matter, who asked not to be identified to discuss private information. A spokesperson for the steelmaker confirmed the information.
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