MOSCOW: Sistema’s fully owned subsidiary LLC Sistema Telecom Assets has contributed its 32.4% stake in OJSC Sintez to the authorised capital of LLC Binnopharm Group.

Following the transaction, Binnopharm Group has increased its stake in OJSC Sintez to 88.6%.

As a result, the effective stake in Binnopharm Group owned by Sistema together with VTB, Sistema’s financial partner in the development of the pharmaceuticals business, now stands at 86.5%. A consortium of investors consisting of the Russian Direct Investment Fund (RDIF), the Russia-China Investment Fund (co-founded by RDIF and China Investment Corporation) and leading Middle Eastern funds holds 12.5%, with the remaining 1% owned by a minority shareholder (an individual).

Binnopharm Group is a full-cycle Russian pharmaceutical holding company that combines five production sites across Russia: JSC Alium (formerly OBL Pharm; Serpukhov district, Moscow region), JSC Binnopharm (two sites at Zelenograd and Krasnogorsk), JSC Sintez (Kurgan) and JSC Biocom (Stavropol). Binnopharm Group companies produce a wide range of drugs in various therapeutic groups and have the largest portfolio of drugs among Russian manufacturers with more than 450 marketing authorisations, including the COVID-19 vaccine Sputnik V.

Sistema PJSFC is a publicly traded Russian investment company with a diversified portfolio of assets serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2020 was RUB 691.6 billion; total assets equalled RUB 1.4 trillion as of 31 December 2020. Sistema’s global depositary receipts are listed under the “SSA” ticker on the London Stock Exchange. Sistema’s ordinary shares are listed under the “AFKS” ticker on the Moscow Exchange. www.sistema.com