Kostin: VTB deal with Wildberries shifted due to drone attacks on warehouses

VTB plans in the coming month to agree on all documents on the transaction with the combined company Wildberries&Russ (RWB), said the head of the Bank Andrey Kostin. He assured that VTB retains plans for cooperation with the marketplace.

Mr. Kostin assured that VTB “has slightly shifted the timing of the development of specific documents.” “Top managers have been busy with these fireworks for months...” But, in principle, we are now back to normal. I think that in the next month we will complete all the agreements that were developed, the head of VTB said at the International Banking Forum.

In May, VTB and RWB announced a strategic partnership. His first step should be to buy VTB a 5% stake in subsidiary WB-Bank. To do this, the credit institution will attract financing through a secondary placement of shares (SPO). In return, Wildberries Bank will have access to VTB infrastructure, retail branches, ATM network, as well as investment and other products. At the end of August, the deal was moved to September.