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Sberbank / Miscellaneous - High Priority
Sberbank: Sberbank announces signing of legally binding contract on sale of
SBERBANK PJSC (Ukraine)
27-March-2017 / 22:33 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS,
LLC - a company of EQS Group AG.
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announcement.
*Sberbank announces signing of legally binding contract on sale of SBERBANK
PJSC (Ukraine)*
_March 27, 2017, Moscow_ - A consortium of investors acquires SBERBANK PJSC
(Ukraine), the subsidiary of Sberbank PJSC.
The consortium will include Norvik Bank (Latvia) and a Belarusian private
company. A relevant legally binding contract was signed today. The deal is
expected to close in the first half of 2017 after receiving approval by the
financial and antimonopoly regulators of relevant jurisdictions, including
Latvia and Ukraine.
SBERBANK PJSC (Ukraine) has all the necessary means to fulfill its
liabilities to private and corporate clients. We hope that the decision to
sell our subsidiary bank will help to unblock its offices and to renew its
normal work, which will allow the bank's customers to continue using the
services of one of the most stable and efficient banks in Ukraine without
interference, and will create a basis for its further development.
Due to quick sale of the bank a loss on investments into the capital of the
subsidiary bank will be reflected in the financial results of Sberbank PJSC
under RAS. At the same time, the effect of the deal on the consolidated IFRS
results of Sberbank Group will not be material.
# # #
*Sberbank*
Alexander Baziyan
Press Office
Tel. +7 (495) 957 5721
media@sberbank.ru
*Sberbank* is Russia's largest bank and a leading global financial
institution. Sberbank holds almost one third of aggregate Russian banking
sector assets, it is the key lender to the national economy and the biggest
deposit taker in Russia. The Central Bank of the Russian Federation is the
founder and principal shareholder of Sberbank owning 50% of the Bank's
authorized capital plus one voting share, with the remaining 50% held by
domestic and international investors. Sberbank has more than 135 million
individual customers and more than 4 million corporate clients in 20
countries. Sberbank has the largest distribution network in Russia with
almost 17,000 branches, and its international operations include UK, US,
CIS, Central and Eastern Europe, India, China, Turkey and other countries.
The Bank holds the general banking license No.1481 issued by the Bank of
Russia. Official websites of the Bank: www.sberbank.com [1] (Sberbank Group
website), www.sberbank.ru [2].
The EquityStory.RS, LLC Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de/ukreg
Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557, US80585Y4070
Listed: Open Market (Basic Board) in Frankfurt; London, Moscow
Category Code: MSCH
TIDM: SBER
LEI Code: 549300WE6TAF5EEWQS81
Sequence No.: 3993
End of Announcement EquityStory.RS, LLC News Service
558689 27-March-2017
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=f3404b78992d31b00b8d7a87b51a05ec&application_id=558689&site_id=vwd&application_name=news
2: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=378682496d93ad736271d8948eaf036a&application_id=558689&site_id=vwd&application_name=news
(END) Dow Jones Newswires
March 27, 2017 16:33 ET (20:33 GMT)
