2nd April 2023

Sberbank is going to take over a controlling stake in Rambler Group. IT Market

Spread the love

IT NewsMarket NewsIT Market

Ekaterina Alexandrova | 07/29/2020

Sberbank plans to additionally invest in Rambler Group as part of a new stage of equity financing. The total amount will be about 2 billion rubles.

In April 2019, Sberbank decided to invest in Rambler Group, and the bank’s ecosystem was supplemented with brands of the group, including the Okko multimedia service, the Rambler & Co media service holding, and the Khudozhestvenny cinema.

“Part of the investment will be directed to the accelerated growth of Okko’s market share in order to make the multimedia service the largest OTT platform in Russia as early as 2021. Also, through investments in the product and technological component of Rambler & Co’s media service projects, it is planned to strengthen the group’s leadership in online media, as well as in the market for selling electronic tickets to events, ”Sberbank said.

As part of the additional financing, Sberbank will buy back a 6.95% treasury stake from Rambler Group, which was previously acquired by the group from financial investor Era Capital. In addition to buying out 6.95% directly from Rambler Group, which will increase Sberbank’s stake to 53.5%, the bank will also acquire a 1.5% stake directly from A&NN, the second shareholder of Rambler Group. Thus, Sberbank’s share in the group’s capital will increase to 55%.

According to Rambler Group, the deal with Sberbank improved many of the company’s financials. The audience of Rambler & Co media service projects increased by 20% and reached 66 million in March 2020, and the number of tickets sold in 2019 through the Rambler / ticket office online service almost doubled compared to the previous year and amounted to 24 million. An explosive growth was shown by the online cinema Okko, its paying audience has tripled.

See also  The market of broadband access services went up

Sberbank investments, platforms, online services

Sberbank | Sberbank

Vicky O. Torres

My name is Vicky O. Torres. I am a psychologist by profession, and I love my work very much. And in general, I am an active seeker of truth, silence and beauty of the world.

View all posts by Vicky O. Torres →

Leave a Reply

Your email address will not be published.