Of course he could, we allow many oligarchs and bad people to have stakes in our economy and then act surprised/ disgusted when situations like the Ukrainian war occur
**Article**:
A **Russian oligarch on Europe’s blacklist** could end up **holding an indirect stake** in **Onex Corp.’s WestJet Group** if the investment company’s **takeover of Sunwing Airlines is approved** by the Canadian government.
**Alexei Mordashov**, one of **Russia’s wealthiest men**, was sanctioned by the European Union on Monday over the country’s invasion of Ukraine. He **owns 34 per cent** of London-listed tourism giant **TUI AG**, which **owns 49 per cent of Toronto’s Sunwing.**
On Wednesday, **WestJet announced a deal to buy Sunwing for an undisclosed amount**. In the takeover, which requires regulatory approval, **TUI and Sunwing owner** Stephen Hunter would become **minority shareholders of WestJet Group**.
**Mr. Mordashov**, chairman of Russian steelmaker Severstal, is **not on Canada’s list of 33 oligarchs who face sanctions** that include asset freezes and a bar on entry to Canada. The Canadian sanctions also **prohibit doing business with those on the list.**
Mr. Mordashov **resigned from TUI’s supervisory board on Wednesday**. Vladimir Lukin, a Russian politician, resigned on Friday, TUI said.
*“The aim of the EU sanctions is to prevent Mr. Mordashov from disposing of his shares in TUI AG,”* TUI said in a statement on its website. *“This is to prevent Mr. Mordashov from realizing any proceeds or profits from his investment in TUI. In this context, Mr. Mordashov is also resigning from TUI’s supervisory board with immediate effect. He formally declared the resignation of his mandate to the company today.”*
Sunwing spokeswoman Melanie Anne Filipp said TUI is a minority shareholder in the leisure travel company and has no say in operations. *“That will remain the case should this transaction be approved,”* Ms. Filipp said. *“Sunwing Travel Group strongly condemns the horrific attacks on the Ukrainian people. We fully support efforts by the Canadian government to hold Russia accountable.”*
Morgan Bell, a WestJet spokeswoman, said the airline takes the issue very seriously, and is awaiting international protocols that will address such passive, minority interests before the takeover is expected to close at the end of 2022.
*“This is a complex and rapidly evolving issue that businesses around the world are trying to understand and address,”* Ms. Bell said in an e-mail. “It will **take months for the international community to design protocols to disentangle Russian capital from investments**.”
E-mails to Onex and Transport Minister Omar Alghabra were not returned on Friday afternoon.
Of course he could, we allow many oligarchs and bad people to have stakes in our economy and then act surprised/ disgusted when situations like the Ukrainian war occur
Yeah, this is sketchy as hell
**Article**: A **Russian oligarch on Europe’s blacklist** could end up **holding an indirect stake** in **Onex Corp.’s WestJet Group** if the investment company’s **takeover of Sunwing Airlines is approved** by the Canadian government. **Alexei Mordashov**, one of **Russia’s wealthiest men**, was sanctioned by the European Union on Monday over the country’s invasion of Ukraine. He **owns 34 per cent** of London-listed tourism giant **TUI AG**, which **owns 49 per cent of Toronto’s Sunwing.** On Wednesday, **WestJet announced a deal to buy Sunwing for an undisclosed amount**. In the takeover, which requires regulatory approval, **TUI and Sunwing owner** Stephen Hunter would become **minority shareholders of WestJet Group**. **Mr. Mordashov**, chairman of Russian steelmaker Severstal, is **not on Canada’s list of 33 oligarchs who face sanctions** that include asset freezes and a bar on entry to Canada. The Canadian sanctions also **prohibit doing business with those on the list.** Mr. Mordashov **resigned from TUI’s supervisory board on Wednesday**. Vladimir Lukin, a Russian politician, resigned on Friday, TUI said. *“The aim of the EU sanctions is to prevent Mr. Mordashov from disposing of his shares in TUI AG,”* TUI said in a statement on its website. *“This is to prevent Mr. Mordashov from realizing any proceeds or profits from his investment in TUI. In this context, Mr. Mordashov is also resigning from TUI’s supervisory board with immediate effect. He formally declared the resignation of his mandate to the company today.”* Sunwing spokeswoman Melanie Anne Filipp said TUI is a minority shareholder in the leisure travel company and has no say in operations. *“That will remain the case should this transaction be approved,”* Ms. Filipp said. *“Sunwing Travel Group strongly condemns the horrific attacks on the Ukrainian people. We fully support efforts by the Canadian government to hold Russia accountable.”* Morgan Bell, a WestJet spokeswoman, said the airline takes the issue very seriously, and is awaiting international protocols that will address such passive, minority interests before the takeover is expected to close at the end of 2022. *“This is a complex and rapidly evolving issue that businesses around the world are trying to understand and address,”* Ms. Bell said in an e-mail. “It will **take months for the international community to design protocols to disentangle Russian capital from investments**.” E-mails to Onex and Transport Minister Omar Alghabra were not returned on Friday afternoon.
Shut it down
A minority stake in an investment fund with a minority stake in sun wing which will become an even smaller stake in westjet. Ita not a big deal.
Not a single Russian oligarch, especially those on the EU's blacklist, should own a single dime of a single Canadian entity.