Eurocement's shares put up for auction

Sberbank has put 100 per cent shares of Eurocement up for an electronic auction, including about RUB70bn(US$958m) of debt obligations. Sberbank is looking for a public buyer for the shares and is expected to write off part of the debt.

Sberbank is the largest bank in Russia, central and Eastern Europe. An open electronic auction was launched on 18 February 2021. The Auction House of Russia is the organiser and is providing an electronic platform where the selection of an investor will take place.

The results of the auction scheduled for release by early April 2021.