Sberbank: The purchase of 99.145% of shares in SLB Commercial Bank AG (Switzerland) by Sberbank of Russia completed
EquityStory.RS, LLC-News: Sberbank / Key word(s): Miscellaneous
Sberbank: The purchase of 99.145% of shares in SLB Commercial Bank AG
(Switzerland) by Sberbank of Russia completed
23.12.2011 / 12:19
---------------------------------------------------------------------
The purchase of 99.145% of shares in SLB Commercial Bank AG (Switzerland)
by Sberbank of Russia completed
December 23, 2011 Moscow - Sberbank of Russia completed today the purchase
of 99.145% of shares in SLB Commercial Bank AG (hereinafter 'SLB') from
LUKOIL (hereinafter the 'Transaction') group of companies. The transaction
is accomplished as a part of implementation of Sberbank's international
strategy and targeted at providing of access of the current and prospective
clients of Sberbank to its international products and services.
Acquisition price of 99.145% shares amounted to CHF 75,350,200.0. Amount of
transaction may be adjusted later on results of preparation of financial
statements by SLB as on the date of the Deal.
Sberbank plans to use SLB, which will subsequently change its name to
Sberbank (Switzerland) AG, as a basis for development of syndicated lending
and trade finance business in Europe, and also a range of other products
for top corporate clients. Sberbank (Switzerland) AG will work primarily
with foreign subsidiaries of the top Russian clients of Sberbank, and will
participate in funding of international holdings of Russian companies.
Andrey Donskih, Deputy Chairman of the Management Board of Sberbank of
Russia commented on the Transaction: 'Acquisition of a bank in Switzerland
is a logical continuation of efforts of Sberbank's corporate and investment
block team to expand the geography of presence and product range of the
bank. We consider the bank in Switzerland to be our outpost in the Western
Europe, which in addition to business opportunities will bring the
experience of independent management and regulation by local supervisory
authorities to Sberbank's system.'
# # #
Sberbank of Russia
Alexander Baziyan
Public Relations
Tel. +7(495) 957 5721
media@sberbank.ru
SLB Commercial Bank AG - commercial bank with head office in Zurich,
Switzerland. SLB was founded 1988, and before completion of the Deal
provided services of commercial loans and trade funding to foreign
subsidiaries of LUKOIL JSC. As on December 31, 2010 assets of SLB amounted
to CHF 192.4 million, capital with accumulated loss - CHF 78.8 million, net
loss in 2010 amounted to CHF 5.9 million.
Sberbank of Russia is the largest bank in Russia, accounting for about 27%
of the aggregate Russian banking assets and employing about 240,000 people.
Sberbank's founder and major shareholder is the Bank of Russia holding over
60% of voting shares. The bank's other shareholders comprise more than
245,000 legal entities and individuals. The bank has the largest
countrywide branch network with 17 regional head offices and more than
19,000 outlets as well as subsidiary banks in Kazakhstan, Ukraine and
Belarus, a branch in India, and representative offices in Germany and
China.
The bank holds the general banking licence No.1481 issued by the Bank of
Russia.
The official website is www.sberbank.ru
End of Corporate News
---------------------------------------------------------------------
23.12.2011 Dissemination of a Corporate News, transmitted by
EquityStory.RS, LLC - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557
Listed: Foreign Exchange(s) MICEX, RTS
End of News EquityStory.RS, LLC News-Service
---------------------------------------------------------------------
150885 23.12.2011
EquityStory.RS, LLC-News: Sberbank / Key word(s): Miscellaneous
Sberbank: The purchase of 99.145% of shares in SLB Commercial Bank AG
(Switzerland) by Sberbank of Russia completed
23.12.2011 / 12:19
---------------------------------------------------------------------
The purchase of 99.145% of shares in SLB Commercial Bank AG (Switzerland)
by Sberbank of Russia completed
December 23, 2011 Moscow - Sberbank of Russia completed today the purchase
of 99.145% of shares in SLB Commercial Bank AG (hereinafter 'SLB') from
LUKOIL (hereinafter the 'Transaction') group of companies. The transaction
is accomplished as a part of implementation of Sberbank's international
strategy and targeted at providing of access of the current and prospective
clients of Sberbank to its international products and services.
Acquisition price of 99.145% shares amounted to CHF 75,350,200.0. Amount of
transaction may be adjusted later on results of preparation of financial
statements by SLB as on the date of the Deal.
Sberbank plans to use SLB, which will subsequently change its name to
Sberbank (Switzerland) AG, as a basis for development of syndicated lending
and trade finance business in Europe, and also a range of other products
for top corporate clients. Sberbank (Switzerland) AG will work primarily
with foreign subsidiaries of the top Russian clients of Sberbank, and will
participate in funding of international holdings of Russian companies.
Andrey Donskih, Deputy Chairman of the Management Board of Sberbank of
Russia commented on the Transaction: 'Acquisition of a bank in Switzerland
is a logical continuation of efforts of Sberbank's corporate and investment
block team to expand the geography of presence and product range of the
bank. We consider the bank in Switzerland to be our outpost in the Western
Europe, which in addition to business opportunities will bring the
experience of independent management and regulation by local supervisory
authorities to Sberbank's system.'
# # #
Sberbank of Russia
Alexander Baziyan
Public Relations
Tel. +7(495) 957 5721
media@sberbank.ru
SLB Commercial Bank AG - commercial bank with head office in Zurich,
Switzerland. SLB was founded 1988, and before completion of the Deal
provided services of commercial loans and trade funding to foreign
subsidiaries of LUKOIL JSC. As on December 31, 2010 assets of SLB amounted
to CHF 192.4 million, capital with accumulated loss - CHF 78.8 million, net
loss in 2010 amounted to CHF 5.9 million.
Sberbank of Russia is the largest bank in Russia, accounting for about 27%
of the aggregate Russian banking assets and employing about 240,000 people.
Sberbank's founder and major shareholder is the Bank of Russia holding over
60% of voting shares. The bank's other shareholders comprise more than
245,000 legal entities and individuals. The bank has the largest
countrywide branch network with 17 regional head offices and more than
19,000 outlets as well as subsidiary banks in Kazakhstan, Ukraine and
Belarus, a branch in India, and representative offices in Germany and
China.
The bank holds the general banking licence No.1481 issued by the Bank of
Russia.
The official website is www.sberbank.ru
End of Corporate News
---------------------------------------------------------------------
23.12.2011 Dissemination of a Corporate News, transmitted by
EquityStory.RS, LLC - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Sberbank
19 Vavilova St.
117997 Moscow
Russia
Phone: +7-495-957-57-21
E-mail: media@sberbank.ru
Internet: www.sberbank.ru
ISIN: US80585Y3080, RU0009029540, RU0009029557
Listed: Foreign Exchange(s) MICEX, RTS
End of News EquityStory.RS, LLC News-Service
---------------------------------------------------------------------
150885 23.12.2011