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MOSCOW, March 29 Russia's Sberbank
hopes to complete the sale of its Ukrainian subsidiary in May or
June, a source with the bank said on Wednesday.
Kiev has recently imposed sanctions on Sberbank and other
Russian state-owned banks operating in Ukraine as part of a
broader flare-up in tensions linked to separatist regions of
eastern Ukraine which are backed by Russia.
VTB, Russia's No.2 bank, is also considering cutting its
exposure to Ukraine.
Sberbank said this week it had agreed to sell its unit in
Ukraine to a consortium of investors, which include Norvik Bank
(Latvia) and a Belarussian private company.
"We plan that (in the) next one to two weeks we will,
together with the buyers, send the documents for approval to the
regulators, three in Ukraine and one in Latvia," the Sberbank
The majority owner of the consortium would be Said
Gutseriyev and his Belarussian company, Norvik said this week.
The Sberbank source confirmed that Gutseriyev would have
over 50 percent in the consortium. Said Gutseriyev is a son of
Mikhail Gutseriyev, co-owner of Russian mid-sized oil producer
Neither Sberbank nor the Sberbank source disclosed the value
of the deal. Kommersant daily newspaper, citing sources,
reported on Wednesday that Sberbank would receive around $130
million from the sale of its Ukrainian unit.
The main shareholder of Norvik Bank is Grigory Guselnikov.
"The deal will be completed with investors' own money, not
borrowed money," the Sberbank source said.
Sberbank hopes to close the deal in May or in June. The deal
would not include VS Bank, the unit of Sberbank Europe in
Ukraine which Sberbank hopes to sell in the near future, the
(Reporting by Alexander Winning; writing by Katya Golubkova and
Polina Nikolskaya; editing by Maria Kiselyova and Susan Thomas)