Support The Moscow Times!

Sistema Cuts Stake in Binnopharm

Russian oil-to-telecom conglomerate Sistema said on Tuesday that its stake in Binnopharm had decreased to 74 percent as the unit merged assets with infusion solutions and blood substitutes maker Alium.

Sistema, which previously held 100 percent of Binnopharm, said the deal was structured as an additional share issue worth around 1.7 billion rubles ($54.63 million).

As a result of the deal, Zenitko Finance Management LLC holds a 26 percent stake in Binnopharm, Sistema said in a statement.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.