The Dutch holding company Veon has closed an agreement to sell VimpelCom, owner of the Beeline brand. The terms of the agreement imply the complete withdrawal of Veon from the Russian market. The local management became the new owners of the business.
The Dutch holding Veon announced the closing of the transaction for the sale of VimpelCom. The company’s local top management, led by its CEO Alexander Torbakhov, became the new owners of the business, Veon said in a statement.
“The deal does not include any repurchase agreement and means a complete exit of Veon from the Russian market,” Veon said.
Veon agreed to terms of the deal to sell VimpelCom on October 6. It was reported that all shares of VimpelCom PJSC will be transferred to Copernicus-invest 3 OJSC, which belongs to Torbakhov and four senior managers of VimpelCom.
Author:
Kirill Bilyk
Source: RB
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