Increase in the capital of JV Telecom-5 up to 10.4 billion rubles
Sberbank and Rostelecom announced on December 27, 2018 signing on the parity rights of the agreement on the next increase in the capital of subfund of a commercial real estate in the form of Telecom-5 joint venture up to 10.4 billion rubles. The transaction is organized with the assistance of Sberbank Investments LLC (100% subsidiary company PJSC Sberbank). The parties agreed to enter in addition 800 million rubles to joint venture, saving in it fifty-percentage participation.
Funds are allocated for acquisition at Rostelecom of five real estate with a total area over 26 thousand sq.m in Moscow, Yaroslavl and Rostov-on-Don for the purpose of further disclosure of their investment and developer potential.
Sale of a complex of buildings in St. Petersburg
On December 17, 2018 within implementation of investment and developer potential of objects the joint venture closed the deal on sale of a complex of buildings on Bolshaya Morskaya St. in St. Petersburg with Imperiya group.
2017: Sberbank and Rostelecom will increase the capital for redevelopment of rub, "Telecom 5" to 8.8 billion
At the end of 2017 Sberbank and Rostelecom on the parity rights signed the agreement on increase in the capital of subfund of a commercial real estate in the form of Telecom-5 joint venture to 8.8 billion rubles. The transaction is organized with participation Sberbank Investments (100% Sberbank subsidiary company). Sberbank and Rostelecom enter in addition 2.4 billion rubles to joint venture, saving in it 50%.
The purpose of increase in the capital – acquisition at Rostelecom 22 additional real estate with a total area over 139 thousand sq.m. in Moscow, the Moscow region and St. Petersburg for the maximum disclosure of investment and developer potential of objects. The portfolio under control of joint venture is increased in total up to 38 objects in eleven cities of Russia. The total area of objects in the property of joint venture exceeded 239 thousand sq.m. which were owned before Rostelecom.
Creation of joint venture was implemented by Sberbank and Rostelecom in December, 2016 based on the first 16 objects. The agreement of intent is at the moment signed with LEGENDA Intelligent Development company about implementation of the developer project on one of objects in St. Petersburg. Besides, more than 10 offers are received from investors on purchase or joint development of objects, components about 40% of a real estate portfolio of joint venture (taking into account the transaction of 2017).
2016: Creation of the joint venture
Rostelecom and Sberbank on the parity rights created the joint venture (JV) — subfund of a commercial real estate with the authorized capital of p4 of one billion. The bank in exchange for a half of shares in the joint venture contributed in it one billion p2 through absolute "subsidiary" — Sberbank Investments.
Under management of the joint venture pass 16 objects of a commercial real estate in nine cities of Russia, including six objects in St. Petersburg and two in the Moscow region. Earlier all these objects with a total area over 100 thousand sq.m were owned by Rostelecom.
Stated purpose of the project — development of a real estate portfolio for the maximum disclosure of investment and developer potential of objects.
The press service of Sberbank notes that its department of investment activities of Sberbank CIB was involved in the transaction. In the reference of the company it is said that it provides services of the so-called mezzanine financing, restructuring of troubled assets and support of transactions M&A (merges and absorption). The combined team of Merchant Banking & Advisory in 12 months 2016 participated in 17 closed and announced transactions in sectors of the real estate, oil and gas, the industry, a lesprom, telecom and media industry, metallurgy and the ODS, financial institutions and also a consumer sector and in trade.