OREANDA-NEWS. December 21, 2012. Sberbank CIB has organised the provision of a RUB 500 mln loan for JSC Kaustik. The funds will to finance the company’s daily operations.

JSC Kaustik is currently one of the assets of Bashkirian Chemistry Group. On December 13, 2012, it was announced that JSC Kaustik, JSC Soda, JSC Berezniki Soda Plant and JSC Transneftekhim are to be merged into Bashkirian Soda Company. At a press conference hosted by Interfax, Alexander Marin, Minister of Economic Development of the Republic of Bashkortostan, stated that 38% of the charter capital of the merged company will belong to the Republic of Bashkortostan, 60% will be owned by Bashkirian Chemistry Group and the remaining 2% will be held by minority shareholders. There are plans to invest approximately four billion roubles in the merged company in 2013. The investment programme will be financed by using the company’s own funds and loans.

According to Nadezhda Pinigina, CEO of JSC Bashkirian Chemistry, the enterprises that will make up the merged company already have many years of positive and wide-ranging experience of working with Sberbank of Russia. Sberbank of Russia is the main financial partner of Bashkirian Chemistry Group. It is expected that in the future the Group will continue to strengthen its relationship with the Bank by making use of its entire product offering.

Andrey Donskih, Deputy Chairman of the Management Board of Sberbank of Russia, commented: “Sberbank has been working with the Group since 1997. Over the years we have provided it with comprehensive commercial banking services. The Bank currently occupies a more than 90% share in the Group’s credit portfolio. The transfer of assets into a single share will lead to big opportunities for cooperation between the Bank and Bashkirian Chemistry Group, including in the field investment banking – bond placements, IPO, and M&A. As a strategic partner of the Group, Sberbank of Russia will support the new merged company and facilitate its development.”