Cyprus Mail

Russian billionaire reaches amicable divorce settlement

Russian billionaire Dmitry Rybolovlev

Russian billionaire Dmitry Rybolovlev and ex-wife Elena, formerly embroiled in a messy and acrimonious divorce involving lawsuits and bitter accusations, have reached an amicable divorce settlement, they announced on Tuesday.

“Dmitry and Elena Rybolovlev announce that they have reached an agreement on the terms of their divorce,” a statement said.

“As part of the settlement, both parties have agreed to terminate all legal proceedings in the divorce case and the ancillary proceedings in any jurisdiction whatsoever and to definitely withdraw all claims against each other, as well as related parties and entities.”

“Mr and Mrs Rybolovlev are happy both with their agreement and with the end of what has been a difficult time for them and their family.”

Rybolovlev, formerly the biggest shareholder in the Bank of Cyprus with close to 10 per cent of its shares, as well as substantial deposits in the lender, was accused of cheating by Rybolovleva in 2008, when she filed for divorce after 23 years of marriage.

She subsequently accused him of ‘hiding’ his assets in obscure trust funds to trick her out of her share of the settlement, and filed a lawsuit.

In February 2014, Rybolovleva made headlines after being detained and questioned by police upon arrival to Cyprus in connection with the alleged theft of a diamond ring believed to be worth $25 million.
Rybolovlev’s spokesmen said the diamond case had nothing to do with him.

The Russian billionaire made much of his fortune from the 2010 sale of his stake in fertiliser company Uralkali for $6.5 billion.

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