RDIF announces early settlement of financial obligations by PJSFC Sistema to the Fund
Moscow, July 30, 2018 - The Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) announces the early repayment of a loan by PJSFC Sistema within the framework of Sistema's settlement agreement with PJSC Bashneft, PJSC Rosneft and the Republic of Bashkortostan. The 40 billion rubles financing for Sistema was organized by RDIF in February 2018 secured against shares in PJSC Detsky Mir after the parties reached an amicable agreement assisted by RDIF.
Kirill Dmitriev, CEO of Russian Direct Investment Fund (RDIF), noted:
"RDIF not only contributed to reaching an amicable agreement, but also acted as a financial guarantor for its implementation. Early repayment of the loan emphasizes that the objectives for peaceful settlement, identified by the RDIF at the beginning of the work, have been achieved in full."
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Hayes / Andrew Leach
Tel: +44 (0) 20 7796 4133