OREANDA-NEWS. June 09, 2014. Sberbank CIB and REGIONS Group have entered into a strategic partnership agreement. The agreement was signed by Amiran Mutsoev, Member of the Board of Directors of REGIONS Group and Alexander Bazarov, Member of the Board and Senior Vice-President of Sberbank of Russia, Acting Head of Sberbank CIB.

The agreement aims to develop strategic cooperation between the two companies using a wide range of financial products and services, including the financing2 of REGIONS Group’s 2014–2017 investment programme. Investments in the Group’s projects will amount to over RUB 61 bln.

This programme combines such construction projects as the JUNE retail and entertainment centres, indoor theme parks in Moscow (total area: 240,000 sq. m), St. Petersburg (170,000 sq. m) and Yekaterinburg (270,000 sq. m), and the project to build a JUNE retail and entertainment centre in Moscow with a total area of 184,000 sq. m.

Commenting on the signing of the agreement, Amiran Mutsoev, Member of the Board of Directors of REGIONS Group said: “Sberbank CIB is has been a committed partner for several years. Throughout this time it has supported all our ambitious plans to develop the business. We have just signed an agreement that will enable us to bring to life new, large-scale projects. We are certain that this cooperation will lead to positive outcomes and further strengthen our longstanding partnership.”

Alexander Bazarov, Member of the Board and Senior Vice-President of Sberbank of Russia, Acting Head of Sberbank CIB, commented: “We have a long track record of successful cooperation with REGIONS Group and are pleased to be their main financial partner. Our financial support has helped REGIONS Group implement projects to construct shopping centres in Ufa and Mytishchi, and refinance projects in St. Petersburg, Krasnoyarsk and Cherepovets. I am certain that the signing of this agreement by Sberbank CIB and REGIONS Group will further strengthen our confident relations and serve as the foundation for interesting projects and deals in the future.”