Sberbank to Increase Share in Rambler Group’s Capital to 55%

Sberbank will acquire a 6.95% treasury stake from Rambler Group and a 1.5% stake directly from A&NN, the second shareholder of the group, which will increase the share of Russia’s top lender in Rambler’s capital to 55%, the bank said in a statement on Wednesday, TASS reported.

“Sberbank plans to invest additionally in Rambler Group as part of a new round of equity financing. <…> The aggregate investment is set to total about 2 bln rubles ($27.7 mln). As part of the additional financing, Sberbank will buy the 6.95% treasury stake from the Rambler Group that the group had acquired from financial investor Era Capital. The bank will also acquire a 1.5% stake directly from A&NN, the second shareholder of Rambler Group. Sberbank’s share in the group’s capital will thus increase to 55%,” the statement said.

A portion of the investment will be injected into the accelerated growth of Okko’s market share to make the multimedia service the largest OTT platform in Russia as early as in 2021. Moreover, the group is set to strengthen its leadership in the online media industry and the market for e-tickets to events.

Sberbank decided to invest in Rambler Group in April 2019 and the Sberbank ecosystem added the brands of the group, including the Okko multimedia service, the Rambler&Co media service holding, and the Khudozhestvenny cinema.

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