Russia's biggest lender Sberbank said Thursday it would lend Croatia's biggest food producer and retailer Agrokor 600 million euros ($829.47 million) to help it refinance existing debts and provide funds for company development.
Sberbank in Russia will provide 500 million euros while its Vienna-headquartered subsidiary Sberbank Europe AG will provide an additional 100 million euros, the bank said, in one of its largest corporate deals to date.
"Sberbank is committed to expanding its footprint further into Central and Eastern Europe as part of its international strategy," said German Gref, the chairman of Sberbank Group's executive board.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
