USM Holding Sells Stake In Russia's Largest Social Network To Sogaz - Statement

USM Holding Sells Stake in Russia's Largest Social Network to Sogaz - Statement

USM holding, founded by Russian billionaire Alisher Usmanov, has sold its entire 45% stake in MF Technologies, which owns a stake in VK, to the subsidiary to Gazprom insurance company Sogaz, the companies announced on Thursday

MOSCOW (UrduPoint News / Sputnik - 02nd December, 2021) USM holding, founded by Russian billionaire Alisher Usmanov, has sold its entire 45% stake in MF Technologies, which owns a stake in VK, to the subsidiary to Gazprom insurance company Sogaz, the companies announced on Thursday.

"The board of directors of Sogaz JSC approved a 45% stake in the capital of MF Technologies JSC, which owns 57.3% of the the shares of VK (formerly known as Mail.ru Group)," the insurance company said in a statement published on Thursday.

Earlier on Thursday, USM holding announced that it had sold 45% of shares of MF Technologies, one of the key shareholders of VK, for an undisclosed fee to the Sogaz group and withdrew from ownership control of the social network.

Alexey Miller, the head of the board of directors of Sogaz, said that he considers this deal as a promising strategic investment, since VK is one of the most successful digital ecosystems in the Russian segment of the internet with a unique set of assets, the services of which are in demand both in Russia and abroad.

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