---
title: "ACMERO Capital: the RBE investment and later ownership accounts"
language: en
canonical: https://dossiertwist.com/dossiers/acmero-capital/rbe-relationship/
as_of: 2026-09-14
keywords: ["ACMERO CAPITAL LIMITED","Acmero","Hong Kong","Shokoladnitsa","Monopoly","Ecoline","Siman Povarenkin","Acmero Limited","RBE"]
---

# ACMERO Capital: the RBE investment and later ownership accounts

**Question.** How do the historical RBE stake and later records fit together?

**Answer.** A reported Povarenkin stake was followed by Ruzanov and then Piks Holding. A later directory lists two equal participants, while allegations about hidden interests remain attributed and disputed.

## The historical stake and transfer

- Analysis: An archived 2018 report says Povarenkin held 50% of RBE from May 2016 to May 2017 and then sold that interest to Nikolay Ruzanov. A later investigation reports Ruzanov’s 50% interest continuing until 2024, followed by Piks Holding. The dates and stake are attributed historical accounts. The historical RBE group stake is associated with the later RBE LLC record through the reported Ruzanov–Piks–Smart chain; this is a reconciliation of published accounts, not a fresh registry history proving the exact earlier legal vehicle. The transfer cannot be used by itself to prove that a seller secretly retained the same beneficial ownership. [s-d198] [s-d58]

## The legal participants and downstream companies

- Analysis: The retained RBE LLC corporate-directory page identifies Piks Holding and Smart Aktivy as its two participants, each with 50%. It separately lists ESP-M, ESP and Goodman Plus-1 as wholly owned subsidiaries. The directory’s public participant list does not reveal the full upstream ownership of the two joint-stock companies. Subsidiary arrows run from RBE to the subsidiaries; a raw extraction reversing that direction is not followed. [s-d233]

## The disputed indirect-interest account

- Analysis: A later investigation argued that Ruzanov and other participants connected RBE to Povarenkin and the Rotenberg network, citing prior restaurant interests and professional links. That is an attributed account of suspected indirect interests, not an established current equity register. Professional links and former co-investments do not by themselves prove undisclosed ownership or responsibility for another participant’s conduct. Arkady Rotenberg’s representative said neither Arkady nor Igor had or had ever had a relationship with RBE. The report said Povarenkin and Ruzanov did not respond to attempts to contact them. The retained record does not supply a court finding resolving that asserted connection. [s-d198]

## Sources

- [s-d198] Media source · s-d198
- [s-d58] Media source · s-d58
- [s-d233] Corporate registry source · s-d233