Gleb Frank sold the fishing and crab business

The entrepreneur sold to top managers a controlling stake in Russian Crab and the Russian Fishing Company, one of the largest pollock producers in the country. The day before the US Treasuryadded Frank to the sanctions list Gleb Frank

Entrepreneur Gleb Frank sold controlling stakes in the Russian Crab group of companies (70.1%) and the Russian Fishery Company (RRPK, 70.09%), as well as in Rockwell Capital. His shares were bought out by top asset managers Evgeny Orlov, Anton Chertkov, Alexander Sapozhnikov, Savely Karpukhin and Stanislav Aksenov, Frank's representative told RBC. He noted that the transactions took place on market terms, but did not disclose the amount.

On March 24, the United States imposed sanctions against Gleb Frank. On March 17, he left the position of HEAD of the board of directors at Russian Crab and RRPK.

“I have made the decision to sell a majority stake in the assets to key managers who have helped me develop these assets over the past years. I am sure that they will cope with the task of maintaining the stability of operations, jobs, ensure the fulfillment of obligations to buyers of products and creditors without my participation, ”Frank’s representative quoted him as saying.

The entrepreneur added that he intends to do "personal projects" in RUSSIA, he will report on them later.

Frank created the Russian Crab Company in 2018. She specializes exclusively in crab fishing. She, as indicated on the website, owns the largest fleet among Russian crab mining companies - as of March 2021, it included 20 vessels.

The Russian Fishery Company (until 2014, Russian Sea - Production) was founded by Frank and the brother of the Governor of the Moscow Region, Maxim Vorobyov, in 2011. In November 2018, Frank became its sole owner. Then the company called itself the largest miner of pollock in Russia.