14.12.2016

Select Business Partners and Top Managers of RENOVA Group Are to Become Shareholders in PAO Metcombank

Moscow. December 14. As part of Renova Groups commercial strategy and its Top Management Incentive Program, the shareholder of PAO Metcombank has resolved to sell a portion of the banks shares. Other than Renova Groups shareholders, business partners and top managers of Renova Group as well as entities acting on their behalf will become the new holders of a major portion in the lending institutions capital. Previously, WINTERLUX Ltd used to be the banks sole shareholder.
This decision has been prompted by considerations of commercial nature, and it is called upon to boost competitiveness of the business, and to improve sustainability and transparency of Metcombanks operations. The experience and expertise of the new shareholders and their motivation to focus on the development of this asset will certainly create a foundation for further quality changes at PAO Metcombank and will drive synergies for many other assets of the Group, notes the co-owner of PAO Metcombank Mr. Viktor Vekselberg.

About Renova Group (www.renova.ru):
Renova Group of companies is a major private Russian business group which owns and manages assets in metallurgy, mining, chemical, construction, transport, energy, telecommunications, high-tech engineering, public utilities, medical, and financial sectors in Russia and abroad (CIS, Switzerland, Italy, South Africa, and the United States of America).
Renovas largest assets include interests in UC RUSAL, T Plus, Kortros, Airports of Regions, and Swiss-based high-tech engineering concerns OC Oerlikon, Sulzer, and a steel-making company Schmolz+Bickenbach.


For all questions please contact:
Andrey Shtorkh, Official Spokesperson for the Renova Group of companies
Telephone: (495) 933-35-25
E-mail: smi@renova-group.ru

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