Sberbank to Close Deal with End of Year

Sberbank plans to sign binding documents on a deal with Group closer to winter, bank head German Gref informed.

“By the end of the year, we must complete the deal. Not earlier than November (we will sign the documents. – “b”). I think we’ll close the deal in November – December,” said the head of Sberbank, Kommersant reported, citing Interfax.

In July, Sberbank and Group announced plans to create a joint business on the basis of the Delivery Club food delivery service, as well as a stake in the Citymobil taxi service (22.69% is owned by Group, which pledges to provide consolidation for the joint venture before closing the transaction), at least 75% of the company and the Foodplex restaurant platform (Sberbank has 35%). Parties will receive 50% in the joint venture.