LetterOne Holdings S.A.

LetterOne is just under 50% owned by Mikhail Fridman and Petr Aven,.The firm announced on Wednesday March 2 2022 that the men had “ceased to have any involvement with the company” and that it had frozen their shares. Lord Davies, the company’s chair and a former Labour trade minister has taken control of the firm. LetterOne, which was created by Fridman and partners with proceeds from the sale of TNK-BP after it was bought out by Kremlin energy giant Rosneft, owns a swathe of energy assets across Europe as well as Holland & Barrett and the Spanish supermarket group Dia. Davies said he would work to support the more than 120,000 people who work for LetterOne and his “focus is to strengthen the board to ensure these jobs are protected”.