Action taken upon Mikhail Fridman and Petr Aven by holding company that owns Holland & Barrett after EU imposed sanctions
The UK-based Russian billionaire oligarchs Mikhail Fridman and Petr Aven have had their shares in the $22bn (£17bn) conglomerate LetterOne, which owns Holland & Barrett, “frozen”, days after they were hit with EU sanctions following Russia’s invasion of Ukraine.
LetterOne, which is just under 50% owned by Fridman and Aven, announced on Wednesday night that the men had “ceased to have any involvement with the company” and that it had frozen their shares.
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