Veon announced that it has reached the final stage of the sale of VimpelCom

Dutch telecommunications holding Veon entered the final stage of the sale of Russian assets. About it informs company press office.

“The company is entering the final stages of closing the sale of Veon assets in Russia, which was announced on November 24, 2022,” the statement said.

It is noted that Veon has submitted all the necessary documents for the redemption of Eurobonds owned by its subsidiary PJSC “VimpelCom(operating under the Beeline brand). The Eurobonds were cancelled, the holding specified. Veon CEO Kaan Terzioglu said the milestone “will be a major milestone” in closing the deal to sell Russian assets.

April 15 Office of Foreign Assets Control (OFAC) of the US Treasury issued Veon permission to sell VimpelCom. In the financial report of the Dutch holding for the first quarter of 2023, it was specified that the company also has the relevant permissions from the authorities of the UK and Bermuda. Prior to this, the sale of VimpelCom also approved FAS and the Russian government commission for the control of foreign investment in the Russian Federation.

November 2022 Veon announced about an agreement to sellVimpelcom» Russian top managers of the company. The buyers of the asset were the general director of the Russian operator Alexander Torbakhov and a group of top managers – Svetlana Kirsanova, Maxim Zaikov, Valery Shorzhin and Renat Nasretdinov.

The deal is scheduled to close by June 2023.”Vimpelcom”then estimated at 370 billion rubles, but the amount of the transaction was less – 130 billion rubles. The remaining 240 billion rubles. is the net debt of VimpelCom within the total debt Veon Holdings BV, which the company will take over and repay, was reported to Vedomosti in November 2022 by a representative of VimpelCom.