Investor Alert

May 27, 2019, 4:25 p.m. EDT

Russian Federation : Sberbank Group receives right to ownership of stocks of Antipinsky Oil Refinerys parent company

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May 27, 2019 (Euclid Infotech Ltd via COMTEX) -- Sberbank has decided to recover debts from Antipinsky Oil Refinery JSC ahead of schedule and collect the collateral available to the bank.

Sberbank Group, in accordance with the laws of Cyprus and its right to collateral a 100% stake in the holding company Vikay Industrial Limited (owner of 80% of the stocks in Antipinsky Oil Refinery JSC) which was provided as collateral for the loan has received ownership rights to Vikays stocks.

Sberbank will continue to work to recover debts from debtors, guarantors and pledgers using all the opportunities provided for by the law.

By the end of June 2019, Sberbank plans to establish a strategy for future work with Antipinsky Oil Refinery JSC.

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