Ozon says agrees to pay Sberbank 1 bln rbl to settle dispute

MOSCOW, Nov 18 (PRIME) -- Russian marketplace Ozon has agreed to pay Sberbank, the country’s top lender, 1 billion rubles to settle a dispute over termination of an agreement of intent between the company, its shareholders, and the bank, according to Ozon’s initial public offering prospectus seen by PRIME on Wednesday.

“Although we and Sberbank admitted no violations in the agreement on settlement or responsibility under the terms of the agreement of intent, under the agreement on settlement, we agreed to pay Sberbank 1 billion rubles,” the documents read.

Ozon said earlier in November it had dissolved an agreement of intent with Sberbank with a 1 billion ruble penalty.

(76.2530 rubles – U.S. $1)

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