OREANDA-NEWS. The Ministry of Finance of Russia announced the completion of a deal on purchasing a stake in Sberbank from the Central Bank. 2.139 trillion roubles (about 29.13 billion US dollars), taken from the Russian National Wealth Fund, were paid for 11.293 billion shares of the largest bank of the country (50 % of the authorized capital).

50 % of Sberbank’s shares were transferred to the government on April 10, while the Central Bank has one share at its disposal. Its keeping by the regulator was explained by the need to conclude a shareholder agreement between the government and the Central Bank. After this happens, the share will also be transferred to the cabinet (it should occur no later than May 6).

Herman Gref, President and Chairman of the Executive Board of Sberbank, said that as a result of the transaction, “the whole people of Russia” actually becomes the shareholder and the main beneficiary of bank’s activities.