T-Technologies, Interros JV acquires 25% of Selectel from current shareholders for approximately 16 bln rubles

MOSCOW. Dec 29 (Interfax) - ILLC Catalytic People, a joint venture between T-Technologies and Interros, has acquired 25% of JSC Selectel, according to a statement from the parties.

"The transaction was completed by acquiring the shares from the company's current shareholders. The full value of the 25% stake in JSC Selectel will be approximately 16 billion rubles," T-Technologies said in the statement.

The sellers were entities owned by Gevork Vermishyan and other Selectel shareholders, according to the company's disclosure server.

Catalytic People used cash flow from previous investments in the high-tech sector in order to fund the transaction, T-Technologies said.