August 11, 2017 / 9:47 AM / 12 days ago

BRIEF-Sberbank buys 19.99% stake in Acron's potash project - Interfax

Aug 11 (Reuters) -

* SBERBANK INVESTMENTS HAS BOUGHT A 19.99 PERCENT STAKE IN VERKHNEKAMSK POTASH COMPANY, THE OPERATOR OF ACRON'S POTASH PROJECT FROM VNESHECONOMBANK (VEB), INTERFAX REPORTED CITING SOURCES

* VEB SAID ON THURSDAY THAT IT HAD DIVESTED ITS 19.99 PCT STAKE IN VPC

* IT HELD AN AUCTION TO SELL 20 PERCENT MINUS ONE SHARE IN VPC IN MID-JUNE, WHICH WAS WON BY RAIFFEISENBANK WITH A BID OF 10.62 BILLION ROUBLES

* THE STAKE WAS PURCHASED NOT BY RAIFFEISENBANK, BUT BY SBERBANK INVESTMENTS TWO SOURCES TOLD INTERFAX

* THUS SBERBANK HAS INCREASED ITS STAKE IN VPC TO 38.89 PERCENT, THE REMAINING 60.1 PERCENT IS OWNED BY ACRON

Further company coverage: , (Gdynia Newsroom)

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