Sber acquired a 41.9% stake in Element Group of Companies (a microelectronics manufacturer) for 27 billion rubles. Rostec retained a 41.66% stake, the state corporation’s press service reported.
The technology giant bought 37.6% of the shares from PAO AFK Sistema and 4.3% from minority shareholders. In addition, Sber, through the organization Integralnye sistemy, expects to acquire securities from other holders.
Rostec Deputy CEO Alexander Nazarov welcomed the entry of the country’s largest bank into the capital of Element Group. According to him, this manufacturer’s microelectronics are used in the creation of the state corporation’s equipment.
These include airplanes and helicopters, unmanned aerial vehicles and other robotics, automobiles, modern medical devices, and optical systems.
Element accounts for more than half of the total production volume of electronic components in Russia, he concluded.
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