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Sberbank

Sberbank to Sell Back 36% Stake in MF Technologies to Gazprombank

November 15, 2021, 12:51 (UTC+3)|
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Sberbank will sell to Gazprombank a 36% stake in MF Technologies JSC (MFT), which controls 57.3% of the voting shares of VK Group (formerly Mail.Ru Group). According to the press service of the bank, the binding document on the sale has already been signed.

The deal will be worth $175.8 million (12.8 billion rubles). The parties plan to close it in the fourth quarter of this year after receiving the necessary approvals.

The deal looks undervalued, according to Kirill Belov, managing partner of the Impulse VC venture fund. “This is quite an attempt to create a third player on the market besides Yandex and Sberbank."

In 2019, Sberbank acquired 36% of MF Technologies for $155.2 million (11.3 billion rubles). ,45% of MTF belongs to Megafon, 9% to USM holding, 10% to Rostec, according to VC.ru.

Original (in Russian)

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