OREANDA-NEWS. May 16, 2014. Sberbank CIB arranged financing for PanKlub, which is the exclusive distributor of PANDORA jewelry in Russia and CIS countries.

The deal amounts to more than 13.6 billion rubles. Part of this sum was provided to the operating company in the form of credit2, issued with the assistance of Sberbank CIB’s Loans Department, the remaining part – through Sberbank Merchant Banking’s purchase of a 35% stake in the holding company of Maxim Nogotkov. This stake was acquired by Sberbank Investments LLC, a part of Sberbank Merchant Banking, which is a wholly owned subsidiary of Sberbank of Russia.
PanKlub was founded in 2009. PANDORA products are currently sold in more than 130 concept stores in Russia, as well as through approximately 100 partner outlets. The company is headquartered in Moscow and currently employs approximately 1000 people.

Oscar Ratsin, Head of Sberbank Merchant Banking, Managing Director, Sberbank CIB, commented, “The PanKlub financing deal reflects the progress that the company has achieved over the past four years, and the bank’s confidence that Maxim Nogotkov and his talented management team will continue to maintain the sector’s strongest growth and high-margin business. The acquisition of a 35% stake is a significant deal for us in the retail and consumer goods sector, and is consistent with our strategy; we believe the consumer sector, real estate, B2B, TMT are among the most promising sectors.”

Entrepreneur Maxim Nogotkov noted the professionalism of Sberbank CIB specialists: “We have been working with Sberbank on other business projects for a long time, and I am very pleased that my colleagues at Sberbank CIB shared my confidence in the future success of the PANDORA chain in Russia. I am grateful to our partners for their professionalism in making their investment decision, and for the speed of closing the deal.”