Mordashov, majority owner of steelmaker OAO Severstal, bought the property from the Kremlin administration and plans to make it the centerpiece of a tourist resort, the billionaire’s S-Group investment company said in a statement.
Mordashov agreed to pay 291 million rubles ($10.3 million) for the residence, the Vedomosti newspaper reported today, citing Kremlin adviser Viktor Khrekov.
-- Editors: Brad Cook
To contact the reporters on this story: Yuliya Fedorinova in Moscow at email@example.com;
To contact the editors responsible for this story: Brad Cook at firstname.lastname@example.org;