` Russian Billionaire Sells his Stake in `Global Commodity Trading Company after being added to US Sanction List ‘

#AceWorldNews – Moscow – March 22. – Russian billionaire Gennady Timchenko has sold his stake in global commodity trading company Gunvor to his partner Torbjorn Tornqvist, the company stated on its website on Friday. Timchenko was put on US sanction list on Thursday.

The company’s stake belonging to Gennady Timchenko was sold to Torbjorn Tornqvist on March 19, the company’s website said. As a result of the deal Tornqvist became owner of an 87% controlling stake, and Timchenko has sold his whole stake in the company, Gunvor stated.

The other 13%of Gunvor’s stock is owned by other officials of the company.

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