VTB Capital has announced that it has invested in the pharmaceutical holding company Binnopharm Group. Sistema’s wholly-owned subsidiary LLC Sistema Telecom Assets sold an 11.2% stake in Ristango Holding Limited, which owns 100% of the authorised capital of Binnopharm Group, to Nevsky Property Investments Limited (controlled by VTB Capital). The transaction totalled RUB7 billion.
Latham & Watkins advised Sistema on the transaction with a team led by Moscow corporate partner Olga Ponomarenko with associates Timur Bayramov and Nina Malkova.
A Moscow team previously advised Sistema on its establishment of Binnopharm Group alongside its financial partner VTB Group.