In December 2015 Alexander Vinokurov acquired a major block of shares in SIA International from the heirs of company founder Igor Rudinsky. The transaction was primarily aimed at the company's financial recovery and rescuing the distributor from crisis.
In the transaction to acquire the SIA International shares, Alexander Vinokurov acted as a private investor. The chief task facing the new shareholder and his team is to develop and implement a strategy for the company's financial recovery.
Agreement has currently been reached with its major creditors, which include GLOBEX Bank and Promsvyazbank, to restructure its overdue debt. Gazprombank has extended SIA International's credit facility to 2017, and talks are underway about increasing the available facility limit.
Additionally, a number of judicial disputes with suppliers have been settled, and accounts receivable from the distributor's clients have been substantially reduced.
The new management team that Alexander Vinokurov brought with him is working on a long-term development strategy for SIA International. The company's internal processes will be optimized to improve operating efficiency and grow the business.