Sberbank and its partners decided to buy the Ingrad developer for 50 billion rubles – media

According to sources told Vedomosti, one of the structures owned by Sberbank is interested in buying the Ingrad developer from the Rossium concern. The information about the preparations for the transaction and Sberbank’s interest in the asset was confirmed by two more interlocutors of the newspaper, who are also competing for the purchase.

According to them, Rossium planned to receive about 40 billion rubles for the transaction. This price forced some applicants to give up their rights to the asset. At the same time, sources say, Sberbank and its partners offered 50 billion rubles for Ingrad.

Some of the newspaper’s interlocutors mentioned an Uzbek investment company among Sberbank’s partners, while others pointed to a “Russian player.” The deal itself is expected to be completed before the end of the summer.

Sberbank itself did not confirm its plans to acquire the developer. It only said that it was aware of the preparation of such a deal.

“Neither Sber nor its structures plan to acquire all or part of Ingrad’s shares,” the press service said.

According to Digit Broker analyst Natalia Pyryeva, Ingrad’s fair value is between 35 and 40 billion rubles. The developer has low margins, the analyst noted. Thus, in 2023, the net profit margin was only 1.2%. For PIK this figure reached 10.7% at the end of last year, and for Samolet Group it was 6.4%.