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.


Read more

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

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.