Sberbank Group receives right to ownership of stocks of Antipinsky Oil Refinery’s parent company

Sberbank Group receives right to ownership of stocks of Antipinsky Oil Refinery’s parent company
Published: 27 May 2019 - 7 a.m.
By: Martin Menachery
Sberbank has decided to recover debts from Antipinsky Oil Refinery 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), which was provided as collateral for the loan — has received ownership rights to Vikay’s stocks.

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

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