Photos: the Agency “Moscow”/Kirill Zykov
Russia’s Finance Ministry bought a 50% stake in Sberbank from the Central Bank from the funds of the national welfare Fund (NWF). The amount of the transaction amounted to 2,139 trillion, RT reports.
the Price per share amounted to 189,44 of the ruble. The cost is defined as the weighted average price of ordinary shares of Sberbank at the end of trading on Masuria for the period from 9 March to 7 April.
At the disposal of the Central Bank is still one share of the Bank. Its retention by the regulator explained the need of a shareholders ‘ agreement between the government and the Bank. After signing all the documents it was submitted to the Cabinet, but not later than 6 may.
it is Expected that the document will remove the conflict of interest: the Bank has now combined the role of shareholder, regulator and Supervisory authority. The sale of shares of public joint stock companies will help to avoid such issues.
In February it was reported that the government intends to buy the Bank package the Bank’s 2.5 trillion rubles. Russian Finance Minister Anton Siluanov noted that the bill on the deal on Sberbank included in the package of budget amendments for the years 2020-2022, prepared by the Ministry of Finance to implement the message of the President of the Russian Federation.
Sberbank will cancel Commission payments up to 50 thousand replaecment predict a sharp increase in the number of bankruptcies in 2021