According to the Panama Papers, in 2010, Shnaider sold at least half of Midland's ownership in Zaporizhstal steel mill to buyers financed by Russian state-owned Vnesheconombank, who were then themselves acquired by the development bank.[1] Shnaider used proceeds from the sale to partially meet cost overruns at his Toronto Trump Tower.
[1]
Electric Networks of Armenia
In 2002, Electric Networks of Armenia (ENA) was privatized by Midland Resources Holding.[2] 100% of ENA shares were sold to Midland Resources Holding company.[3]
In October 2004, the Midland Group announced its intention to enter Formula One motor racing in 2006, with plans to use a car built by the Italian manufacturer Dallara In January 2005 the group changed plans by purchasing the Jordan Grand Prix team.[4] They kept the yellow-liveried EJ15 cars and declared 2005 to be a year of learning. Under the name Midland F1 Racing, the team made its debut with a brand-new car and livery at the start of the 2006 Formula One season. With this team, Shnaider declared his intention to bring the first Russian driver into the sport,[5] a feat not achieved until Vitaly Petrov's entrance into F1 with Renault,[6] three years after Schnaider sold the team. On 9 September 2006, the team was sold to Spyker Cars for $106.6 million.[7][8]
From the beginning of the 2008 season, the team became known as Force India and remained active until 2018, when a group of consortium led by Lawrence Stroll bought the team in 2018 following a financial collapse that forced Force India to be put under administration. From 2018 to 2020 the team competed under the Racing Point banner.[10][11] In 2021 the team was rebranded as Aston Martin.[12]
