LetterOne

Letterone Holdings S.A.
Company typePrivate
IndustryInvestment management
Founded2013; 11 years ago (2013)
FounderMikhail Fridman
HeadquartersLuxembourg[1]
Number of locations
Worldwide
Key people
Jonathan Muir (CEO)[2]
Vitalij Farafonov (COO)
Mervyn Davies (chairman)
ProductsAsset management
Websitewww.letterone.com

LetterOne Holdings S.A. (LetterOne) is an international investment business based in Luxembourg.[1] With long-term investments in the telecoms, technology, healthcare, and energy sectors, the firm has four main units: L1 Health, L1 Technology, L1 Retail, and L1 Energy, all of which are supported by L1 Treasury Services, which manages the group's liquidity.[3] LetterOne was set up LetterOne in 2013 as part of a broader new investment vehicle using the proceeds from the sale of TNK-BP.[4] LetterOne had $26.8 billion in equity at the end of 2021.[5] Co-founders Mikhail Fridman and Petr Aven stepped down from the company in early March 2022, after the EU imposed sanctions on them in the wake of the Russian invasion of Ukraine.[6] The board now includes Mervyn Davies, Jonathan Muir, Franz Humer, Richard R. Burt, and Wulf von Schimmelmann, with Davies serving as chairman and Muir as CEO.[7] Among major investments in 2023 were Turkcell, Qvantel, VEON, Wintershall Dea, DIA and Holland & Barrett.

  1. ^ a b "LetterOne Adds Franz Humer to Board After Billionaires Resign" ([1]); BNN Bloomberg (bnnbloomberg.ca); 10-03-2022; retrieved on 20 January 2023
  2. ^ Cite error: The named reference our-people was invoked but never defined (see the help page).
  3. ^ Cite error: The named reference Reference the Second;2023;letterone.com was invoked but never defined (see the help page).
  4. ^ Leroux, Marcus. "Fridman may sell North Sea assets". The Times.
  5. ^ "Ineos Olefins and Polymers joins Nextloopp Project to produce food-grade recycled PP" ([2]); S&P Global (spglobal.com); 11-01-2022; retrieved on 21 January 2023
  6. ^ Thomas, Daniel; Seddon, Max (2 March 2022). "Mikhail Fridman loses control of LetterOne after sanctions". Financial Times. Retrieved 2 March 2022.
  7. ^ Cite error: The named reference Reference the First;2023;letterone.com was invoked but never defined (see the help page).