Yves Bouvier Sells His Geneva-based Art Storage Company

His fiercest adversary has been Dmitry E. Rybolovlev, a Russian billionaire art collector, for whom Mr. Bouvier helped amass one of the world’s most valuable art collections. But Mr. Rybolovlev accused him of fraud and said he had been overcharged by as much as $1 billion on the sale of multiple pieces of art by Mr. Bouvier, who was arrested in Monaco.

The case is ongoing, but Mr. Bouvier has made counterclaims, including assertions that the Monaco officials pursuing him were biased in favor of Mr. Rybolovlev. The Monaco minister for justice took early retirement last month after Le Monde reported on a series of friendly text messages exchanged between the minister and a lawyer for Mr. Rybolovlev.

Both sides deny any wrongdoing.

The sale this week involved only the Geneva-based storage and shipping business, and did not include Mr. Bouvier’s shareholdings in the art storage warehouses in Luxembourg and Singapore, Mr. Momente said.

The Geneva business was bought by a French shipping company, André Chenue SA. The French company and Mr. Bouvier’s lawyer did not immediately respond to requests for further details.

Mr. Momente said it made sense to link up with André Chenue, which he described as a major player in the industry.

“We have known them for many, many years,” he said. All of the Geneva company’s 43 employees are expected to keep their jobs.

Mr. Rybolovlev has been selling several of the works he bought with Mr. Bouvier’s help, including the last known Leonardo da Vinci in private hands, “Salvator Mundi” or “Savior of the World.” The Leonardo da Vinci work, estimated to have a value of $100 million, is being sold by Christie’s as part of its November Contemporary art sale.

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