The Group's representatives are expected to be included in the New Stream Group Executive Team Sberbank. This is mentioned in the message sent by the credit institution on Monday.
"Russia's Sberbank continues its co-operation with the New Stream Group, which includes Antipinsky and Afipsky refineries with a total processing capacity of 15 million tonnes, and expresses interest in development.
"Sberbank believes that the New Stream Group and its shareholders are strategic partners, and we will continue to cooperate mutually beneficial in the long term," says Anatoly Popov, Vice Chairman of Sberbank's Board of Directors.
In order to ensure uninterrupted operation of the group's production assets and the continuous supply of petroleum products to the parties, the parties intend to include Sberbank Capital representatives in the management bodies of the Novy Stream Group. By the end of 2018, it is planned to agree on a plan that the group must provide sufficient working capital.