Sanctioned Russian Billionaire Taking Efforts To Protect Swiss Holdings
Through Renova, Vekselberg owns stakes in three Swiss equipment manufacturers (Sulzer, OC Oerlikon, and Schmolz + Bickenbach) as well as a stake in the giant aluminum producer United Co. Rusal is owned by billionaire Oleg Deripaska, another oligarch hit by the sanctions. Shares in his companies dropped significantly while Vekselberg took steps to limit his personal exposure by selling stakes in Sulzer so that he did not own the majority....