Sberbank denies nonmonetary nature of sale of Ukrainian subsidiary

10:30, 10.04.2017 1 min read

Sberbank of Russia denied reports that the deal in which it sold its Ukrainian subsidiary bank was not monetary.

"Information that there is no monetary component in the deal to sell PJSC Sberbank (Ukraine) is not true. Under the signed agreements, the terms of the deal are not being disclosed," the lender told Interfax.

Novaya Gazeta reported earlier that, as payment for the Ukrainian bank, one of the buyers, Grigory Guselnikov is giving Sberbank 98% of the Russian Norvik Bank (Vyatka Bank brand in Kirov Region), a piece of land worth $13.6 million, and the Hilton Yekaterinburg and Hilton Mozhaisk hotels worth respectively $19.8 million and $25.5 million. There were also plans to hand over refinanced loans of the operators of the Hilton Kirov and Hilton Perm hotels totaling $23.4 million, the paper said.

"These are all fabrications that come out of nowhere," Guselnikov told Interfax, commenting on the report about the nonmonetary nature of the deal.

Sberbank declined to comment on whether Norvik Bank will be handed over to Sberbank as part of the sale of the Ukrainian subsidiary.