VTB Group acquires 25.1% stake in iCITY digital skyscraper project

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AK&M 09 June 2021 23:35

Entities of VTB Group have acquired a 25.1% stake in iCITY, the construction project of the first digital skyscraper in Russia, from Alexey Bogachev's entities, VTB informed.

Earlier, VTB opened a RUB 30 billion credit facility for the iCITY social and business center construction.

VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all the key segments of the financial market. In the CIS, the group is active in Armenia, Ukraine, Belarus, Kazakhstan, Azerbaijan. VTB's banks in Austria, Germany and France are operating as parts of the European sub-holding led by VTB Bank (Austria). Besides, the group has subsidiary and affiliate banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one VTB branch in China and India, two VTB Capital Plc branches in Singapore and Dubai.