Billionaire entrepreneur Roman Avdeev has finalised the sale of his remaining stake in Rossium Group and other assets, completing his exit from all Russian business holdings. The transaction, originally announced in late October 2024, transfers full ownership of Rossium’s diversified portfolio — spanning the banking sector, where it controls Russia’s seventh-largest bank by assets, agriculture, real estate and pharmaceuticals — to his business partner, fellow billionaire Sergei Sudarikov.

“I want to express my profound gratitude to everyone who has supported me throughout this journey, and in particular to my long-time partner Sergey Sudarikov, for our many years of productive collaboration,” said Avdeev. “I’m confident that, under his guidance, the Rossium Group will continue to thrive and reach new heights. With this decision, I can devote more of my time to my loved ones—especially my children—and to other important aspects of my life beyond business.”

Avdeev, who has 23 children, 19 of whom are adopted, previously expressed a desire to devote more time to family life and non-business endeavours. Upon the completion of the sale, he no longer holds any assets in Russia.

About Rossium Group

Rossium Group is an investment holding company established by Roman Avdeev in 2006. Its flagship asset is Credit Bank of Moscow (CBM), ranked seventh in Russia by assets. In 2023 Rossium Group reported a profit of RUB 17.5 billion (approximately $200 million) on revenue of RUB 71.6 billion (approximately $840 million). In addition to banking, Rossium’s diversified investments include pension and insurance services as well as assets in the industrial sectors. Prior to its sale earlier in 2024, the portfolio also included “Ingrad”, a leading residential real estate developer in the Moscow region, with 2023 revenue of RUB12.4 billion (approximately $145 million).

About Sergei Sudarikov

Sergei Sudarikov is the principal beneficiary of the Region Group, an investment conglomerate active in banking, real estate, pension funds and insurance. Prior to the recent transaction, Sudarikov controlled a 31-per cent stake in Rossium Group. The strategic collaboration between Avdeev and Sudarikov, formalised through a 2019 memorandum, led to the consolidation of core assets such as CBM and Ingrad, along with non-state pension funds and other financial entities.