Pioneer Group and Sberbank CIB Sign Strategic Partnership Agreement
OREANDA-NEWS. Pioneer Group and Sberbank CIB have signed a long-term strategic partnership agreement that aims to increase the effectiveness of the Group's operations. The agreement expresses the parties' interest in developing and strengthening cooperation.
Under the strategic partnership Sberbank CIB will provide Pioneer Group comprehensive investment banking and advisory services on Russian and international markets, organise equity capital and debt capital deals, and cooperate in the area of financing the Group, providing banking services and interacting as a part of marketing initiatives.
"Sberbank has been working with Pioneer Group on financing construction projects and providing mortgage lending since 2006. During that time the total volume of financing attracted has exceeded RUB 13 bln. We proposed that Pioneer Group should become one of our key strategic partners. Under this agreement we are ready to provide comprehensive financial solutions tailored to meet our client's needs," said Andrey Donskih, Deputy Chairman of the Board of Sberbank of Russia and Head of Sberbank CIB.