At the end of 2018 Sberbank and Rostelecom are again increasing the capital of their commercial property sub-fund “Telecom-5”. The key business of the joint venture is development and management of commercial properties. According to the official statement of its participants, at this time the charter capital of Telecom-5 will be increased to RUB 10.4 billion. This year partners make an additional contribution of RUB 800 mln each to the sub-fund, continuing to be participants in Telecom-5 on the parity basis. The additional funding will be applied to purchase from Rostelecom five real properties totaling over 26 thousand sq. m. in Moscow, Yaroslavl and Rostov-on-Don.
Sberbank has been represented in the deal by the AGP team consisting of partner Alexey Gorodissky and attorney Jose Tobar.
“Telecom-5 was established in December 2016. In December 2017 Sberbank and Rostelecom increased the capital of the fund from the initial RUB 4 billion to RUB 8.8 billion. The lawyers of AGP Corporate/M&A group provided support during all the three phases of the project.”
