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Sberbank inks non-binding deal to buy stake in Mail.rus co-holder

MOSCOW, Oct 29 (PRIME) -- Russias biggest bank Sberbank has signed a non-binding agreement to buy a minority stake in MF Technologies (MFT), a shareholder of Internet company Group, from Gazprombank, and a binding agreement can be signed by the end of 2019 upon receipt of all permits, Sberbank said on Tuesday in a statement.

Sberbank sees considerable potential in the online-to-offline platform its creating together with Group to work in food delivery, the restaurant business, transportation, and a number of other areas, the bank said.

The bank shares and supports the strategy pursued by Group, which focuses on technology leadership, a wider range of high-quality services meeting clients everyday needs, and greater customer experience. Two mutually reinforcing ecosystems working together to maximize their synergy should create new opportunities for clients.

MFT owns 5.23% in, or 58.87% of votes. Gazprombank has 35% in MFT, which is also co-owned by mobile operator MegaFon, industrial corporation Rostec, and USM.

South Africas Naspers owns 27.6%, or 12.3% of votes in, Chinas Tencent has 7.4%, or 3.3% of votes, and Chinas Alibaba Group has 10%, or 4.5% of votes.


29.10.2019 11:34
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