AFK Sistema may sell VTB stake in Binnopharm Group

AFK Sistema of Vladimir Yevtushenkov intends to sell 11.2% of the parent company Binnopharm Group to VTB Capital. The fact of negotiations was confirmed by the representative of AFK Sistema RBC. The source of the publication claims that the deal will amount to 7 billion rubles.

Binnopharm Group unites several production facilities in different regions of Russia. Its drug portfolio includes more than 450 marketing authorizations. The company became the first manufacturer of the Sputnik V coronavirus vaccine.

A spokesman for AFK Sistema said that the deal could be closed in the near future. The company will remain the main managing shareholder of Binnopharm Group. The representative recalled that earlier VTB had financed the purchase of the pharmaceutical enterprises Obolenskoye and Sintez, which are now part of Binnopharm Group. The representative of VTB called Binnopharm Group and the pharmaceutical sector “in general … investment attractive assets.”

After the transaction, the effective share of AFK Sistema will decrease from 86.5% to 75.3%. 12.5% ​​belongs to a consortium of investors comprising the Russian Direct Investment Fund, the Russia-China Investment Fund and the largest Middle Eastern funds. 1% belongs to a minority shareholder – an individual whose identity is not disclosed.

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