Rosatom launches 'Russian roulette' procedure with Delo Group amid dispute with Shishkarev

MOSCOW. Feb 18 (Interfax) - State-owned company Rosatom, which owns 49% of the Delo group, has taken the decision to launch a mutual buyout procedure to end its partnership with the group, the press service of Rosatom told Interfax.

"Unfortunately, our vision for the development of this business differs from the point of view of the owner of the Delo group (Sergei Shishkarev, who owns 50%), in which we hold a 49% stake. The existing partnership agreement stipulates a mechanism for terminating it through a fair market offer to buy each other out. On Tuesday, Rosatom's strategic council took the decision to begin launching this procedure," the press service wrote.

Rosatom said that it would continue to implement its strategic goal of developing a national logistics operator, regardless of the outcome of the mechanism.

"As part of the mutual buyout mechanism enshrined in the existing corporate contract between the parties, Sergei Shishkarev intends to respond without delay if he receives an official notification from partners on the launch of the mechanism in question ('Russian roulette') with a price offer for selling or buying the stake in the Delo managing company," a representative of Shishkarev told Interfax.

According to the Unified State Register of Legal Entities (USRLE), Shishkarev owns 50% of the Delo managing company, while Atomenergoprom, owned by Rosatom, has a 49% share, and R-Alliance holds 1%. A year previously, Transmashholding (TMH) also acquired a share in the Delo group. In the first stage of this deal, R-Alliance, TMH's friendly company, purchased a 1% share in Delo from Shishkarev, thus reducing Shishkarev's stake from 51% to 50%, no longer a controlling interest. Atomenergoprom retained its 49% stake. One possible scenario for the deal involved Rosatom acquiring a stake in the engineering holding company in exchange for a stake in Delo Group. However, it was reported in late 2025 that the deal between Rosatom and TMH for the stake in Delo Group would not take place, as the parties were unable to agree on a price for the asset.