Sberbank closes deal to sell Eurocement Group
Sberbank has closed a deal to sell parent company Eurocement Group’s shares and debt to OOO Mikhailovsky Kombinat Stroitelnykh Materialov (Mikhaylov Construction Materials Plant), which won the auction organized on the Russian Action house’s electronic platform. The transaction was valued at RUB 161 bn.
The deal will have a positive impact on the Group’s financial performance and will be reflected in Sber Group’s IFRS Report for Q3 2021.
Unique in terms of size and structure, the transaction is unprecedented for the Russian market. It has been closed through an open and transparent market procedure during which its participants raised their bids over 40 times. Almost all leading consulting companies – KPMG M&A Russia, Deloitte, PwC, EY, Bryan Cave Leighton Paisner, and more – took part in the structuring of the deal at different stages of its preparation.