Sberbank finances one of Russia’s biggest estate deals

Aug 16, 2019
  • Bank offers credit facility worth RUB 14.6 bln to Etalon Group to buy 49% shareholding in Lider-Invest from JSFC Sistema

August 16, 2019, Moscow — Sberbank has financed a major 2019 real estate deal in Russia, having offered Etalon Group a credit facility worth RUB 14.6 bln maturing in eight years to acquire a 49% shareholding in Lider-Invest, a leading Moscow-based residential real estate developer, from JSFC Sistema. The acquisition is making Lider-Invest wholly owned by Etalon Group.

Etalon Group is a biggest developer and construction corporation in Russia. Listed on the LSE, Etalon Group mainly runs infill initiatives and is engaged in complex land development of comfort, business, and premium class projects. The deal ushered Etalon Group’s consolidation of 100% of shares in Lider-Invest, which has a portfolio featuring 31 projects under construction/design along with eight completed apartment complexes and commercial real estate sites with the area of 1.9 mln square meters for sale.

Anatoly Popov, Deputy Chairman of the Executive Board, Sberbank:

“We’ve been working with Etalon Group, a key client of ours, and backing the carrying out of its large-scale projects for a long time now. Sberbank’s financial contribution to deals like that helps create comfortable environment on the real estate market in Russia, which is vital for the economy in general.”

Gennady Shcherbina, CEO, Etalon Group:

“The long-lasting partnership between Etalon Group and Sberbank, as well as the smooth and professional operations of our teams have enabled us to close the purchase of Lider-Invest, a most promising player on the Moscow market, and do it unprecedentedly fast. As a result of the deal, Etalon Group extended its footprint in Moscow region significantly, having gotten access to a portfolio of projects with the area of 1.9 mln square meters, including such landmark and complex land development projects as ZIL-Yug or Central Park, as well as infill business and premium class projects in almost every district of Moscow.”