The children of the Minister for Energy Transition Agns Pannier-Runacher are associated with a French company set up by her father, a former director of the oil company Perenco, based on funds partly domiciled in tax havens and not mentioned on the minister’s declaration of interests, the investigative media Disclose reported on Tuesday.
Questioned by Disclose, the minister refers to her father concerning the origin of the funds, of which she says she does not know the investment strategy, and she notes that she did not declare this structure, since the law does not oblige to declare the interests of his children.
The minister’s father, Jean-Michel Runacher, created this civil society in France, named Arjunem, in 2016 as part of a transfer of assets, contributing approximately 1.2 million euros in shares, according to the Disclose investigation. Four of his grandchildren are partners, including the children of Agns Pannier-Runacher who were minors at the time, and for whom the minister signed as legal representative.
She explained in a detailed response that they were bare owners and therefore received no dividend today, Jean-Michel Runacher remaining the usufructuary, and that Arjunem was indeed subject to French taxation.
According to Disclose, this heritage comes from speculative funds, based in Delaware, Ireland and Guernsey, and in which Perenco also held investments.
Financial products are deposited in a bank in Luxembourg, confirmed Ms. Pannier-Runacher.
Of the Arjunem company, the minister does not mention in her declarations to the High Authority for the Transparency of Public Life (HATVP). The law obliges him to declare his direct participations and those of his spouse, but not those of his children.
It is not about my heritage, but that of my children who, themselves, have no power to manage the company to date, replied Mrs. Pannier-Runacher Disclose.
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The HATVP guide leaves no ambiguity about the fact that I did not declare this structure, she told AFP.
On the origin of the funds, Jean-Michel Runacher contributed fund shares that have no connection with Perenco. These are investments acquired in the past as part of his personal investments, she said, referring to her father for more details.
Whatever the legal form of these funds, the holder of the shares pays the tax system of his country of residence, the minister also told AFP, who also sees no conflict of interest between his ministerial functions and the activities of his father, former manager of Perenco.
I did not have to deal with files related to Perenco, which exercises most of its activities outside France, she assures.