Sberbank Capital acquires 25.64% stake in the charter capital of GeoProMining Investment
September 12, 2014, Moscow – Sberbank Capital LLC has acquired a 25.64% stake in the charter capital of GeoProMining Investment (CYP) Limited (Cyprus) by obtaining an additional issue of the company’s shares.
GeoProMining Investment (CYP) Limited (Cyprus) is the holding company of GeoProMining Group, which possesses mining and processing assets in Russia (gold and antimony) and Armenia (gold, copper and molybdenum). The Group was founded in 2005. At the end of 2013 it held reserves of around 18 mln ounces in gold equivalent (according to the JORC standard) and had produced 5.5 tonnes (176,000 ounces) in gold equivalent.
Sberbank of Russia
Sberbank of Russia 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 110 million individual customers and 1 million corporate clients in 22 countries. Sberbank has the largest distribution network in Russia with more than 18,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.
The Bank holds the general banking license No.1481 issued by the Bank of Russia. The official website is www.sberbank.ru.