Veon receives approval to sell business in Russia
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“On February 7, 2023, a subcommittee of the Government Commission for the Control of Foreign Investments in the Russian Federation approved the proposed sale of Veon’s Russian assets to certain senior members of the management of PJSC”VimpelCom“headed by its current CEO Alexander Torbakhov, subject to certain conditions,” the statement said.
November 2022 Veon announced an agreement to sellVimpelcom» Russian top managers of the company. The buyers were Torbakhov, as well as executive vice presidents Svetlana Kirsanova (for retail business), Maxim Zaikov (for corporate business development) and Valery Shorzhin (for network technological development), as well as vice president for corporate development, mergers and acquisitions Renat Nasretdinov .
It was reported that the deal was planned to close before June 2023. VimpelCom was then valued at 370 billion rubles. ($5.35 billion at the exchange rate of the Central Bank on January 26, 2023), but the transaction amount was less – 130 billion rubles. ($1.88 billion). The remaining 240 billion rubles. ($ 3.47 billion) is the net debt of VimpelCom within the total debt of Veon Holdings BV, which the company will assume and repay, a representative of VimpelCom reported to Vedomosti in November 2022.
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