Galchev Romeo Ilyich biography. Unprofitable cement: how Filaret Galchev lost $700 million on LafargeHolcim. Personal and public life

Galchev Filaret Ilyich is one of the richest Russian businessmen. In 2013, he was ranked twenty-second on the Forbes list. One of the owners of the Eurocement holding, chaired the board of directors of the Krasnoyarsk Coal Company. He is a member of the Board of the Russian Union of Industrialists and Entrepreneurs and the Moscow English Club.

Education

After graduating from school, Filaret Galchev entered the Moscow Institute of Mining as an engineer-economist. He graduated from it in 1991. In 1995 he defended his candidate's and in 1999 his doctoral dissertation. In 2004, Filaret Galchev became a professor of economics and mining planning at the Mining University. He gave lectures to students of Moscow universities. He was engaged in modern scientific research with their application in practice in cement production.

Youth

Filaret Galchev, whose family was replenished with the birth of his daughter, worked four jobs in his youth: as a commandant at the institute, deputy chairman of the trade union committee, engaged in science and unloaded wagons. At the same time he studied at the University of Mining. Galchev managed to sleep only three hours a day. The situation began to change financially for the better after graduation.

Labor activity

After graduating from a higher educational institution, Filaret Galchev was invited to work as the chief commercial expert at the Institute. Skochinsky. From 1992 to 1993 He served as General Director of the International Trade House. Then, until 1997, he headed the board of the Rosugol company.

In the spring of the ninety-seventh year, Filaret Galchev became the general director of the Closed Joint Stock Company Rosugolsbyt. In 1999, he chaired the board of his subsidiary, and a year later - already in Rosugolsbyt, and also headed the Board of Directors of the Krasnoyarsk Coal Company. In 2002, Filaret Galchev became President of Rosuglesbyt and Chairman of the Board of Directors of Eurocement.

Is a current member of:

• Moscow English Club;
• board of the RSPP;
• an interdepartmental governmental group on the issues of providing fuel to the country's vital facilities;
• Academy of Mining Sciences;
• International Energy Academy.

Own business

After a senior position in a coal company, Filaret Ilyich gained enough experience and business connections to create his own business. So in 1996, Rosuglesbyt appeared. In 2004 the company was renamed into Open Joint Stock Company "Eurocement-Group". Over the years of painstaking work, Filaret Galchev created the largest holding from a small company, uniting more than fourteen cement plants. Open Joint Stock Company "Eurocement-Group" produces cement of all types. Shipment is carried out through nineteen sales branches in more than fifty regions of Russia and abroad.

In 2000, Galchev and S. Generalov bought the Krasugol company in half. At that time, she was bankrupt. Prior to the acquisition of the enterprise by Galchev and Generalov, employees were not paid salaries for eight months. A ton of coal was below cost, debts to many budgetary organizations amounted to almost five billion dollars.

But Filaret Galchev was sure that he and his partner would raise Krasugol from the ruins of bankruptcy. This is what happened due to the correct conduct of business. When Krasugol passed into the hands of new owners, all the previous management was replaced by a new one, and a professional business team was found. As a result, already in the second month, wage arrears were paid off and large tax repayments began.

But after some time, Generalov sold his share of shares to MDM Bank, without agreeing this step with Galchev. As a result, in order not to get involved in lengthy proceedings, he also sold his stake. Filaret did not manage to make money on the company, but at least he was able to return the invested funds.

Galchev chose the business in the cement industry after analyzing this market in advance. And he considered it the most promising for further development. In 2002, together with G. Krasnoyarsky, they acquired the Stern-cement company, which is on the verge of bankruptcy. She owned several cement factories. The company was subsequently renamed and became part of the Eurocement holding.

In 2005, Filaret Galchev acquired Inteko cement plants. This company was owned by Elena Baturina, wife of the former mayor of Moscow Thanks to modern modernization, proper business conduct and painstaking work, the Eurocement Group holding has become one of the world's largest cement producers in ten years.

Media interest

Filaret Galchev, whose biography is described in this article, has repeatedly come under the close attention of the media. There are many reasons for this. In 2000, competition increased in the coal business. It was about the allocation of large sums by Gazprom and the government for the revival of the coal industry, since a certain shortage of raw materials had already begun to be detected. Filaret Galchev, who at that time owned Rosuglesbyt (the largest trader on the world market), also offered a large sum of money - half a billion dollars.

In 2005, due to rising cement prices, dozens of consumer companies filed a lawsuit against Galchev's holding, calling it a monopolist. The FAS conducted an audit and found that there were violations of the law in the activities of Filaret Galchev. Namely - illegally obtained income. As a result, the FAS tried to recover 1.9 billion rubles from the Eurocement Group holding company from the profit received by the company. But the Ninth Arbitration Court ruled that the FAS prescription was illegal. Since then, the Eurocement Group holding has ceased to be considered a monopoly enterprise.

Scandal with Russia Partners

In the spring of 2006, there was a major scandal between Russia Partners and Filaret Galchev. The Fund, together with its partner, investment company A-1 (from Alfa Group), filed a lawsuit against Eurocement Group with the Moscow Arbitration Court. Moreover, it came from enterprises controlled by Russia Partners, which own forty-four percent of the holding's shares.

The essence of the claim was that in 2004, Eurocement Group withdrew raw materials quarries from the factories. Russia Partners provided data that the holding began to sell raw materials at inflated prices. And he sent the finished products to Eurocement (renamed Stern-cement) for subsequent resale.

In 2006, Russia Partners began legal prosecution of the holding in Cyprus and England. The fund's claims were made because of 38.7 percent of the shares of Maltsovsky Portlandcement. This is ECG's largest asset. Galchev and companies controlled by him in Cyprus were accused of retaining this block of shares illegally. Although this package was sold to the holding by the Russia Partners fund in 2004, 38.7% has not yet been transferred from Eurocement to the holding. However, Russia Partners lost as a result.

businessman family

Filaret Galchev (nationality - Greek) was born on May 26, 1963 in the Georgian Soviet Socialist Republic, Tsalka region, the village of Tarson. Father - Ilya Azarievich, mother - Elizaveta Agepsimovna (maiden name Balobanova). Filaret Galchev married Markitanova In this marriage, a daughter, Alina, and a son, Ilya, were born. There is little information about his family, as the millionaire tries to hide his relatives from journalists.

Awards and titles

Filaret Galchev, whose photo is in this article, was awarded in 1995 the badge of "Miner's Glory" of the third degree. Five years later he received the anniversary badge of the Russian Federation. In 2000, he was awarded the Miner's Glory badge of the second degree, and in 2003 - the Miner's Golden Badge. In 2004, Filaret Galchev received the medal "For Mercy" of the second degree. A year later - the Order of Daniel of Moscow. In 2006, Galchev was awarded a medal for the help of the Ministry of Internal Affairs and was awarded the title of "Honorary Builder of Russia". In 2007 he received the golden badge of St. A a year later he was awarded the golden order by FILA.

Filaret Galchev wrote more than twenty-two scientific papers. Among the first, he considered and substantiated the segmentation of the coal market and the formation of competitive prices for products. In 1997, Filaret Galchev published a monograph on the marketing of Russian coal, and later, in 2003, a book was published on topical economic problems in mining.

Galchev has Greek citizenship. In 2011, Filaret Ilyich, according to CemWeek magazine, was named "Person of the Year". Last year, Galchev became one of the participants in the project for preparing tourist flights to the International Orbital Station.

Financial condition

In the mid 2000s. Filaret Galchev's financial condition was 2.4 billion US dollars. He became one of the richest entrepreneurs in Russia. Gradually, the fortune grew and reached $5.6 billion. But the economic crisis of 2014 made itself felt.

The demand for products manufactured by the Eurocement Group holding dropped sharply, and Filaret Galchev lost more than four billion dollars. In 2015, according to the Forbes rating, Galchev ranked twenty-third among the richest Russian businessmen. And in 2016, Galchev's fortune is estimated at one hundred and fifty-five million dollars.

"If Galchev initially bought shares with BofA loan money, then he could face the need to deposit additional security in the summer, when LafargeHolcim shares fell by more than 30% from July to September, ”explains Fedor Bizikov, senior portfolio manager at GHP Group.

Since the beginning of 2016, LafargeHolcim shares have fallen further by 29%, and the company's capitalization decreased by $9 billion. This happenedagainst the backdrop of the strengthening of the Swiss franc. DThe company's earnings declined due to the slowdown in the economies of Brazil and China and the weakening of the Russian ruble (the company has assets in Russia), Bloomberg notes.Therefore, two weeks later, in early February, Sberbank sold a 6.12% stake in LafargeHolcim Limited in one day at a 9% discount (at a price of 36.25 Swiss francs apiece, while it bought them for 41 francs), writes FT.

Margin call in the 2008 crisis

Deripaska and Magna

One of the most notable victims of the 2008 crisis was Oleg Deripaska, who then lost a 20% stake in Canada's Magna, the world's largest manufacturer of auto components. A year earlier, BNP Paribas expressed its willingness to allocate up to $1.22 billion to Russian Machines, owned by Deripaska, to buy shares. As Kommersant wrote, already in September 2007, the bank issued the first tranche to Russian Machines in the amount of $880 million. Under the terms of the loan, Magna shares were pledged, and in the event of a fall in Magna's quotes on the New York Stock Exchange, the bank would be returned losses from depreciation pledge. The bank also had the right to demand early repayment of the loan in case of depreciation of shares by more than 30%. According to the publication, then, since the release of the first tranche of the loan, quotes fell by 50.6%, since the purchase of securities by Russian Machines - by 38.3%.

Deripaska and Hochtief

Following the loss of Magna, Deripaska, for the same reasons, had to part with almost 10% of the shares of the German construction holding Hochtief. In May 2012, thanks to a loan from Commerzbank, Oleg Deripaska and his Rasperia Trading bought a 3% stake in Hochtief. According to Vedomosti, the value of the package at that time could reach €160 million. After some time, the company increased its stake to 9.9%, paying about €390 million for this. However, in October 2012, the share price fell to €169, 2 million, as a result of which Deripaska decided to withdraw from the company's share capital. Presumably, the businessman's losses could amount to €340 million.

Zanadvorov and "The Seventh Continent"

A victim of the 2008 crisis was the network of grocery stores "The Seventh Continent". Then its main shareholder Alexander Zanadvorov, according to Vedomosti, received a margin-call from Deutsche Bank on a $560 million loan secured by 74.81% of Seventh Continent's shares. But the businessman managed to keep the package - he was helped by a former business partner Vladimir Gruzdev (through his family fund).

Alfa and VimpelCom

The margin-call also rang for the telecommunications division of Alfa Group of the Altimo holding. During the crisis of 2008, he had to save 44% of VimpelCom shares from bail in Deutsche Bank. Then Vnesheconombank came to the aid of Alfa, agreeing to refinance the loan for $2 billion.

Alpha and X5

Around the same time, Alfa almost lost 47.2% of X5 Retail Group. As Vedomosti wrote, the company agreed with a consortium of banks led by Deutsche Bank and BNP Paribas on a loan of up to $1 billion secured by the retailer's shares. In the spring of 2008, GDR X5 shares fell from $27.3 to $8, so the banks demanded that Alfa pay off the debt or increase collateral. Alfa managed to keep its stake in X5.

RBC's interlocutor, who is familiar with the terms of Galchev's deal with Sberbank, suggests that the entrepreneur was unable to make the necessary additional security for the loan, therefore, against the backdrop of a decrease in the value of LafargeHolcim shares, the bank decided to sell the pledge.

Such volumes of shares did not pass on the stock exchange, Fedor Bizikov, senior portfolio manager at GHP Group, confirms. According to him, it is impossible to sell 37.2 million shares per day to the market, since the volume of exchange trading is limited to a few million per day.

Investment banker familiar with the organizers transaction for the sale of LafargeHolcim assets, told RBC that the sale of a stake in the company with a 9% discount can be considered successful. "On such illiquid on the market to sell collateral at such a low discount is a success,” he said. According to the financier, the deal can be called a market one, since the buyers of the former assets Galchev was not just one investor.

He clarified that UBS, which acted as an agent for the sale of the Lafarge stake, managed to collect a book of orders from various investors. The purchaser of the stake in LafargeHolcim, according to the FT, was a group of international investors from the UK, Switzerland, the US and other countries. A source close to Sberbank said that the sale of LafargeHolcim shares was a business decision of the bank, which does not cancel further cooperation with Galchev. “We have a fairly large loan portfolio for his company,” he said.

Representatives of Eurocement, Sberbank and LafargeHolcim declined to comment. Galchev's phone did not answer on Tuesday.

Among the major shareholders of LafargeHolcim, according to the company, Schweizerische Cement-Industrie-Gesellschaft, controlled by Thomas Schmidheini (controls 11.87%), the Demare family through Groupe Bruxelles Lambert (9.84%), NNS Jersey Trust (4.97%) of the Egyptian entrepreneur Nassef Sawiris, Dodge & Cox (3.41% of shares), Harbor Funds (1.86%). Filaret Galchev was the third largest shareholder of LafargeHolcim, created by the merger of two leading manufacturers of building materials - Lafarge and Holcim in July 2015, but after the deal with Sberbank, he was left with only 0.27%.

Merger talks between Swiss Lafarge and French Holcim have been ongoing since July 2013. According to the FT, Galchev did not participate in the negotiations at the first stage due to the cooling in relations with the Schmidhaini family, which arose after he tried to increase his stake in the company in 2008 and 2011. However, in May 2014, Galchev approved the merger in order to be able to buy the assets offered for sale as a result of the transaction (then he was the second largest shareholder of Holcim with a 10.8% share).

LafargeHolcim is present in 90 countries. The company is headquartered in Switzerland, and shares are traded on stock exchanges in Paris and Zurich.

Last year, Forbes estimated the state of Galchev in $ 4.4 billion. In the Forbes ranking of "The Richest Businessmen of Russia" in 2015, he ranked 23- e place. ​

Galchev Filaret Ilyich, co-owner of the Eurocement holding, former chairman of the board of directors of Krasnoyarsk Coal Company.

Born on May 26, 1963 in the village of Tarson, Tsalka region of the Georgian SSR, Greek. Father - Galchev Ilya Azarievich, mother - Balabanova Elizaveta Agepsimovna.

Education:
After graduating from school, he entered the Moscow Forestry Engineering Institute, from which he was drafted into the army.
In 1991 he graduated from the Moscow Institute of Mining Industry with a degree in Economics and Planning of Mining Production.
In 1995, he defended his Ph.D. thesis on the topic “Economic justification for the formation of a regional coal sales market”.
In 1999 he defended his doctoral dissertation on the topic "Development of the coal market in Russia".
In 2004 - he was awarded the academic title of professor in the Department of Economics and Planning of Mining Production of the Moscow State Mining University.
He gives lectures on economics to students of the Moscow State Mining University, linking modern scientific research with the practice of cement production.

Professional activity:
He worked as the chief expert on commercial issues at the Institute of Mining. Skochinsky.
From 1992 to 1993 - General Director of the International Mining Trade House.
From 1993 to 1997 - headed the Coal Market Organization Department of the State Enterprise Russian Coal Company Rosugol.
In April 1997 - General Director of CJSC Rosuglesbyt Company.
In 1999 - Chairman of the Board of CJSC Rosuglesbyt Company.
In 2000 - Chairman of the Management Board of Rosuglesbyt Company, Chairman of the Board of Directors of the Krasnoyarsk Coal Company.
In 2002 - President of Rosuglesbyt Company JSC, Chairman of the Board of Directors of Eurocement JSC.
In 2004 - Chairman of the Board of Directors of ZAO EUROCEMENT group.

Member of the Moscow English Club, member of the board.
Member of the interdepartmental working group under the Government of the Russian Federation for prompt consideration of issues related to the provision of fuel to vital facilities of the country. Repeatedly participated in meetings held in the Government of the Russian Federation on the preparation of fuel and energy companies for work in winter conditions.
A full member of the Academy of Mining Sciences, a member of the International Energy Academy, has more than 22 scientific papers, one of the first in his scientific papers considered the problem and substantiated the methodology for segmenting the coal market and forming a competitive price for coal products.
In 1997, he published the monograph "Coal Marketing in Russia", and later a book of the same name was published.
In 2003 he published the book "Actual Problems of the Economics of Mining".

Awards and titles:
Badge "Miner's Glory" III degree (1995), Commemorative badge "275 years of the coal industry of Russia" (1997), Badge "Miner's glory" II degree (2000), "Gold sign of a miner" (2003 ), Badge of honor of the Governor of the Bryansk region "For Mercy" II degree (2004), Order of the Blessed Prince Daniel of Moscow (2005), Commemorative medal of the Ministry of Internal Affairs of Russia "For Assistance" (2006), Title "Honorary Builder of Russia" (2006), Golden Badge of the Holy Great Martyr Barbara (2007), on March 21, 2008, he was awarded the highest award of the organization by the International Federation of United Styles of Wrestling (FILA) - the Golden Order of FILA.

Married, has a daughter and a son. wife - Markitanova Elena Nikolaevna, daughter - Galcheva Alina Filaretovna, son - Galchev Ilya Filaretovich.

Scandals:
2002| In Bryansk, Galchev had a conflict with the president of the Aton investment company in connection with negotiations on the acquisition by Galchev of the company's 76% stake in Oskolcement. Filaret Galchev offered an amount that seemed to Mr. Yuryev "ridiculous." Then Galchev promised "Aton" to unleash a price war, which would reduce the profitability of "Oskolcement". The capital's mayor's office was also interested in such a price war. Stern agreed with Yury Luzhkov to supply cement for the city's municipal needs at virtually dumping prices, which closed the market for Oskolcement.
(Newspaper "Kommersant" dated August 12, 2002 No. 141 / P (2510))

2002| Almost immediately after that, Filaret Galchev fell into the sphere of media interest in connection with the death of two top managers of his business empire at once. Ivan Kartashev, Deputy General Director of OAO Rosuglesbyt, was killed in the Moscow region. Investigators of the Odintsovo prosecutor's office, who opened a criminal case, connected the murder with the struggle for the Krasnoyarsk coal mines. It was noted that the coal business, associated with a large number of offsets, barter and bills, is traditionally considered one of the most criminal. Especially in Krasnoyarsk, where "thieves in law", "authorities" and just bandits show interest in almost every major deal.
By a strange coincidence, on the same day, at about the same time, another businessman associated with Rosuglesbyt died. Committed suicide at home Viktor Ostrovlyanchik, Advisor to the President of the concern "Stern-cement". They wrote that Filaret Galchev, who until recently headed Rosuglesbyt, was dissatisfied with the old management and, in particular, Ostrovlyanchik. The reason for Filaret Galchev's dislike for the old Stern-cement management team is simple. He was faced with a gigantic accounts payable of the holding (about 1.5 billion rubles). Obviously, the question of where the money went was asked to all his employees, including Viktor Ostrovlyanchik.
Representatives of Filaret Galchev argued that it was absurd to link these two deaths, since in February 2002 the businessman Ostrovlyanchik sold his coal business to the MDM group, and a little later acquired Stern-cement with the proceeds. Ivan Kartashev came to work at Rosuglesbyt only in May. The confusion allegedly arose also because at that moment there were two "Rosuglesbyt": ZAO, controlled by Galchev, and OAO, which was owned by MDM, which is a trader of "Krasugol".
(Newspaper "Kommersant" dated 13.08.2002 No. 142 (2511), Magazine "Money" dated 21.08.2002 No. 32 (387))

2006| The Russia Partners Fund and its partner, the A 1 investment company (a structure of Alfa Group), announced that they have filed a lawsuit with the Moscow Arbitration Court against Eurocement Group. The lawsuit was filed with the arbitration court of first instance on behalf of Kolden Holdings Ltd, controlled by Russia Partners. and Serpell Holdings Ltd., which own a 44% stake in OAO Eurocement. The gist of the claims was that in 2004 "Eurocement Group" withdrew from the three cement plants, a share in which belongs to the fund, open pits for the extraction of raw materials. According to Russia Partners, the group began selling raw materials to plants at inflated prices, and sent finished products at almost market prices to Eurocement for sale to end consumers. As a result, Eurocement's profit in 2004 decreased by 68% compared to 2003. The amount of the claim (about 3.35 billion rubles) is more than 75% of the total profit received by Eurocement Group in 2004.
(Newspaper "Kommersant" dated March 21, 2006 No. 48 (3379))

2006| In 2006, the New York private equity fund Russia Partners, in addition to previous claims, announced the start of prosecution of the Eurocement Group (ECG) in the UK and Cyprus. The claims of the fund, demanding to recover $100 million from the ECG, relate to 38.7% of the shares of the group's largest enterprise, Maltsovsky Portlandcement.
The dispute arose over a 38.7% stake in the Maltsovsky Portlandcement plant, ECG's largest asset. The essence of the claim is that ECG owner Filaret Galchev and the Cypriot companies Rodette and Taplow controlled by him illegally retained this block of shares, which Russia Partners sold to them in 2004 as part of a multi-stage transaction to transfer this block from Russia Partners to their joint venture with ECG company - OJSC "Eurocement". So far, these shares have not been transferred to Eurocement OJSC. The amount of claims is $100 million.
(Newspaper "Kommersant" dated August 17, 2006 No. 151 (3482))

Russian businessman, largest shareholder and chairman of the board of directors of ZAO Eurocement Group. As of 2013, he was ranked 22nd in the list of the richest Russians according to Forbes magazine, having a fortune of $ 6.7 billion. Main assets: Eurocement Group (100%), a stake in Uralkali (10.85% ) and Holcim (10.8%), the second largest cement producer in the world.

Biography

Filaret Galchev was born on May 26, 1963. in the village of Tarson, Tsalka region, Georgian SSR. Graduated Moscow State Mining University in 1991, became the chief expert on commercial issues at the Institute of Mining. Skochinsky. Since 1992 - CEO International Mining Trade House.

In 1993 became the head of the department for organizing the coal market in the company "Rosugol". In 1996 created and led the company "Rosuglesbyt".

In 2002 together with a partner Georgy Krasnyansky bought the company "Stern-cement", which owns several cement plants, and renamed it Eurocement. The company united 16 cement plants in Russia, Ukraine and Uzbekistan. In 2005 Galchev acquired the cement plants of the company "Inteko" Elena Baturina, wife of the ex-mayor of Moscow Yuri Luzhkov. In less than 10 years, "Eurocement group" entered the top ten largest cement producers in the world.

Strokes for a portrait

Doctor of Economics, Professor, full member Academy of Mining Sciences, member International Energy Academy. Author of 22 scientific papers, books "Marketing of Coal in Russia" and "Actual Problems of the Economics of Mining", teaches at Moscow State University for the Humanities.

For several years, he was a member of the interdepartmental working group under the Russian government to provide fuel to vital facilities in the country.

He was awarded the title of "Honorary Builder of Russia", awarded the Order of Merit for the Fatherland, 2nd degree, of the Blessed Prince Daniel of Moscow.

Married, has a son and a daughter.

Wears Danish brand glasses Lindberg, the minimum cost of which is from 160 thousand rubles.

Rumors

Since the early 1990s Georgy Krasnyansky was Galchev's partner. In 2007 he sold his 23.8% stake to Galchev, but did not immediately receive the money ($1 billion). As a result, the transaction ended with a trial in the Swiss arbitration court, where the parent company of the Eurocement group holding is registered.

In 2001 Galchev was in conflict with the leadership JSC "Krasnoyarskenergo" because of non-payments of power engineers for coal. The businessman made harsh statements, promising to introduce a 100% prepayment for coal. The conflict broke out with renewed vigor in 2002, but then Galchev had claims already against RAO "UES of Russia", as the parties failed to agree on prices for the supplied coal. Soon the businessman sold his assets in "Krasnoyarsk coal company"(KUK) and JSC "Rosuglesbyt", raising $120 million.

Purchase of "Stern-cement" in 2002. took place against the backdrop of a lawsuit, the company was on the verge of bankruptcy. At the same time, Galchev met with the governor of the Bryansk region Yuri Lodkin and announced plans to re-register Eurocement Group, but the media considered this statement to be flirting with the local administration, which interfered with Galchev's business.

In 2002 Galchev was going to acquire 76% of the shares JSC "Oskolcement", but the head of an investment company "Aton" Evgeny Yuriev called the proposed amount "ridiculous". In response, Galchev promised to unleash a price war with Oskolcement in order to reduce its profitability. The Moscow authorities sided with Galchev and agreed to supply cement for the municipal needs of the capital at virtually dumping prices, which closed the market for Oskolcement.

In 2005 several dozen companies at once - consumers of cement, including RAO "UES of Russia", complained about the "Eurocement group" in FAS, accusing him of an unreasonable increase in cement prices. The authorities tried to recover 1.9 billion rubles from the company to the budget. allegedly illegally obtained income, but unsuccessfully: the company paid "only" 267 million rubles.

In the mid 2000s. a protracted arbitration war unfolded between Russia Partners and "Eurocement group". The conflict ended with the company Millhouse Capital Roman Abramovich acquired a stake in Russia Partners and put two of its representatives on the board of directors of Eurocement.

The media suggested that Abramovich decided to take full control of the strongest player in the cement market. Soon, Abramovich's structures sued the cement manufacturer, but Galchev bought out a 44% stake in the OJSC from Millhouse. The deal could amount to $150 million, for this money Millhouse waived claims against the owner of the holding and withdrew its lawsuits from the High Court of London.

On the eve of the Universiade-2013 in Kazan, the media drew attention to Galchev's close ties with the leadership of Tatarstan. It was reported that the government of the republic and Eurocement Group signed an agreement under which the group can receive all major orders to ensure the construction of Universiade facilities, social mortgage and oil complex "Taneko" and increase the volume of deliveries to the republic by 20-25%.

In June 2015, information appeared in the media that Galchev claims to be released after the refusal of the singer Sarah Brightman fly to the ISS seat in the spacecraft "Soyuz TMA-18M". However, the press service of the TsPK named after Gagarin refuted the statements of the press service of Eurocement Group that the billionaire is being trained to fly into orbit in Star City.

Next to the name of Filaret Galchev, the words "cement magnate" often coexist. The businessman and billionaire radically changed the cement industry in Russia and brought it to the world leaders.

Diligence and education allowed the entrepreneur to climb the oligarchic Olympus, and even large losses, estimated at several billion dollars, did not force the businessman to leave the list of two hundred richest Russians. Biography of Galchev is not distinguished by bright pages, and yet it is quite instructive.

Almost nothing is known about the childhood and youth in the biography of Filaret Galchev. A boy with an exotic Greek nationality for the post-Soviet space was born on May 25, 1963. At that time, his father Ilya Azarievich and mother Elizaveta Agepsimovna lived in the Georgian village of Tarsoni. According to some reports, in reality, the birthplace of the "cement king" is the village of Gumbati, known in Georgia as Kyumbyat.

Filaret became the second heir in the family. By that time, the Galchievs already had a son, who was born five years earlier. Now the elder brother of the current oligarch occupies the second most important position after the president in the Eurocement company.

Education

In pursuit of higher education in 1986, Filaret Galchev left for the capital of the Soviet Union, where he entered the Moscow Institute of Mining. Remoteness from his homeland and a beggarly scholarship forced Filaret to take on part-time jobs, which only strengthened his industriousness and became his start in entrepreneurship.

During the period of study, the future oligarch was the commandant of the institute hostel, acted as chairman of the university trade union committee, and at night, like many students, he worked as a loader at the railway station.

In 1991, Galchev graduated from the university with a diploma in the mining industry.

Later, in 1996, after defending his dissertation, Filaret Ilyich became a candidate, and 5 years later - a doctor of science in the coal mining industry.

Since 2004, being a businessman, Filaret Galchev took a professorship at the department of the Moscow State Mining University, where he taught for some time.

Career and business of Filaret Galchev

Successful graduation from the university did not go unnoticed and played an important role in Galchev's further career. In 1991, he became the chief expert at the Mining Institute. Skochinsky. A year later, a young, talented specialist became the General Director of the International Trade House. Filaret Ilyich stayed in this position for a year, after which until 1997 he headed the sales department at Rosugol.

During this period, Galchev seriously thought about his own business, and soon Rosugolsbyt CJSC was registered. A year later, the entrepreneur became chairman of the board of the organization he created. At the same time, he headed the board of directors of JSC Krasnoyarsk Coal Company.

In 2000, Filaret Galchev and Sergey Generalov became the owners of the Krasugol company in equal shares.

The deplorable state of the enterprise initially shocked Galchev. However, the well-coordinated work of partners, experience and the right choice of course allowed the partners not only to restore the company with five billion debt, but also to make it profitable.

After Generalov got rid of his stake in Krasugol in favor of MDM Bank, Filaret Ilyich also decided to sell his stake, without having much benefit, but avoiding litigation.

In 2002, Galchev was elected president of the closed joint-stock company Rosuglesbyt, which 2 years later was redesigned and renamed Eurocement. This organization was destined to become the head of the rapidly expanding holding, which later received the same name.

Having discovered the prospects of the cement business, the entrepreneur, in partnership with Georgy Krasnyansky, became a co-owner of Stern-cement, a company that was on the verge of bankruptcy. Several cement plants fell under the control of the emerging Galchev holding.

In 2005, Filaret Ilyich expanded his cement empire with plants that are part of the Inteko company. This organization was purchased from Elena Baturina, the wife of former Moscow Mayor Yu. Luzhkov.

Since then, the Eurocement Group holding has practically got rid of competitors in the vastness of the Russian Federation and has become an active player in the international market.

By 2014, the holding, which was under the complete control of Galchev, included 16 most powerful cement enterprises selling products through 19 branches located in various regions of Russia and abroad.

Having become the undisputed leader in its segment in Russia, Filaret Galchev took over more than 10% of the shares of LafargeHolcim, a company that ranks first among cement producers and suppliers on a global scale.

In 2016, Galchev's capital suffered a serious blow.

Having lost a significant part of the shares of LafargeHolcim, the businessman reduced his fortune by more than two-thirds. The loss of billions for Filaret Ilyich is also associated with other aspects of business, among which huge loans and activities that are not entirely clean from the point of view of the law are mentioned.

As a person influencing the Russian economy, the oligarch did not remain aloof from politics. During the period when Galchev was engaged in the coal business, he was a member of a government group dealing with issues of providing fuel to objects of national importance.

Being the owner of an organization that occupies a significant place in Russian and international business, Filaret Galchev became a billionaire and firmly established himself among the two hundred richest people in Russia. Even after losing several billion today, in 2018, the photo of a businessman ranks 99th in the Russian Forbes rating. The capital of the entrepreneur is estimated at $ 1 billion, and the main source of income for the oligarch remains a controlling stake in the Eurocement Group holding.

Using the data published annually in Forbes magazine, one can analyze the success of entrepreneurial activity and the dynamics of changes in the state of Filaret Galchev (year - $, billion / place among the Russian rich):

• 2011 – 3,5/31;
• 2012 – 4,4/26;
• 2013 – 6,7/22;
• 2014 – 6/24;
• 2015 – 4,4/23;
• 2016 – 1,5/47;
• 2017 – 1,3/68.

The billionaire owns the original Sapphire yacht. The vessel is not distinguished by its outstanding dimensions, but it is equipped with all the amenities for a luxurious pastime during an ocean voyage.

Among the real estate of the oligarch, there is an exotic villa located on the territory of the Peloponnese island.

Private life of Filaret Galchev

Like most oligarchs, and even more so people from the Caucasus, Filaret Ilyich tries not to talk about his personal life. For a long time, the billionaire has been legally married to Elena Nikolaevna, whose maiden name was Markitanov. During their married life, the couple got two children - daughter Alina and son Ilya.

Fully devoting himself to business, the entrepreneur never stopped his scientific activity and reached a high position in this area.

In addition to a doctorate in economics, Galchev's biography includes membership in several prestigious academies. Filaret Ilyich is the author of more than two dozen scientific papers.

His monographs on marketing and mining economics are known far beyond the borders of the Russian Federation.

As a former student who was forced to combine his studies with night jobs, and a person who is directly related to the teaching staff at universities, Filaret Ilyich provides all kinds of support to talented youth.

Galchev's holding is involved in many charitable programs, with the help of the billionaire's funds, mass cultural events of national importance are held. In addition, for more than 10 years, Eurocement has been listed as a trustee of the Tretyakov Gallery.

Paying tribute to his ancestors, or maybe trying to expand the possibilities of his business, the businessman added Greek citizenship to Russian citizenship, which became the subject of many rumors discussed in the media.

Complaining about the lack of free time, the billionaire refers reading books to his hobbies. As a child, Filaret Ilyich was obsessed with the dream of space flights. In 2015, after the place of a tourist who had the opportunity to visit the ISS was vacated, the press widely discussed the option where Galchev was to become this lucky one. However, later official sources denied this information.

For services to the state and society, Filaret Ilyich Galchev was awarded many awards, including not only Russian, but also international ones.