Sberbank opens 14.6 bln rbl credit to Etalon to buy Leader-Invest

MOSCOW, Aug 16 (PRIME) -- Russia’s top bank Sberbank has opened a 14.6 billion ruble 8-year credit line to real estate developer Etalon Group that the company would use to buy 49% in another real estate developer Leader-Invest, Sberbank and Etalon Group said in the statements on Friday.

“Sberbank has financed one of the largest deals on the Russian real estate market in 2019. The bank opened a 14.6 billion ruble 8-year credit line to Etalon Group for procurement of 49% shares in Leader-Invest from Sistema,” the bank said.

Etalon said that it closed the purchase of 49% in Leader-Invest using the credit line.

The deal allowed Etalon to raise its stake in Leader-Invest to 100%.

(65.8907 rubles – U.S. $1)

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