Moscow, December 2, 2021 - Gazprombank provided funds to Service-Telecom Group to close the deal with international telecommunications holding VEON Ltd. on the purchase of the entire shares of National Tower Company JSC, owning one of the largest portfolios of the telecommunication infrastructure in Russia. The deal totaled to RUB 70.65 bln, including RUB 47 bln provided by the Bank. In order to secure part of the settlements under the deal, Bank GPB International S.A., a subsidiary bank of Gazprombank Group in Luxembourg, issued letters of credit in favor of VEON Group.
“We have actively cooperated with telecommunication companies, including major infrastructure operators of Russia. The Bank investments in this sector are focused on the projects that have the potential to maximize the positive effect on the market as a whole and to ensure a relatively quick return on investment. I am confident that this unique deal, that we have closed, meets these criteria to the fullest extent,” said Alexey Belous, Gazprombank Deputy Chairman of the Management Board.
“We are happy to announce the successful closure of the deal on the purchase of the Veon tower portfolio in Russia. It is our key achievement on the way to the national leadership in the market of independent telecommunication operators. Gazprombank has been the financial partner of Service-Telecom since 2015 and has been supporting the development of the Group. It enables us to implement the infrastructure projects while contributing to the development of the digital economy and expanding the capabilities of mobile communications for people across the whole country,” commented Nikolay Berdin, CEO of Service-Telecom Group.
It should be added that the parties obtained an approval of the Federal Antimonopoly Service.
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Gazprombank is among the top three leaders in the banking industry of Russia based on the key figures (according to INTERFAX-100. Russian Banks), and one of the largest financial institutions in the Central and Eastern Europe.
Gazprombank offers a wide range of services to corporate and private customers. The Bank provides services to key sectors of the Russian economy, including gas, oil, chemical and petrochemical, metallurgy, electric power, engineering, transport, construction, communication, agriculture, trade and other industries. The Bank has many years’ unique experience in organizing project financing and issuing debt instruments in the Russian and international capital markets, rendering financial and consulting services in project, corporate and debt financing, as well as experience in the investment management for national and foreign companies.
Gazprombank retail business is focused on the provision of modern state-of-the-art products and services. As of the beginning of 2021, the Bank served nearly 5 mln retail clients, the retail loan portfolio was more than 660 bln rubles at year-end 2020, and the retail deposit portfolio was 770 bln rubles.
Bank GPB International S.A. is a 100% subsidiary of Gazprombank JSC, established in Luxembourg in 2013. A full-fledged European bank with well-diversified customer base of corporate and private bank clients. More information about the Bank could be found by the link Homepage | Gazprombank Luxembourg
Service-Telecom Group is an independent infrastructure operator for cellphone service providers. The company operates in the key markets of the Russian Federation: Moscow Region, St. Petersburg and Leningrad Region, Nizhny Novgorod and Nizhny Novgorod Region; Pskov, Novgorod, Vologda, Arkhangelsk and Sverdlovsk Regions as well as Krasnodar Territory. It is the leading company among independent infrastructure operators in terms of the growth rate of the tower portfolio and operational efficiency. Media representatives email: firstname.lastname@example.org