Home Business NPF Sberbank agreed to purchase the Renaissance Pensions fund

NPF Sberbank agreed to purchase the Renaissance Pensions fund

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NPF Sberbank JSC plans to acquire 100% of shares in NPF Renaissance Pensions JSC. Such an agreement was reached by shareholders of pension funds, the press service of Sberbank said.

The amount of the deal was not disclosed. It will be closed upon receipt of regulatory approvals and other standard closing conditions for such transactions.

The company noted that thanks to the transaction, the Sberbank NPF will be able to build up its corporate client portfolio, which today includes about 800 organizations. Thus, the company will be able to strengthen its position in the market for corporate non-state pension coverage.

Today, the clients of NPF Renaissance Pensions are about 200 companies, including large international holdings. More than 42 thousand clients participate in the fund’s pension programs. The volume of the fund’s assets is 24.5 billion rubles.

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