Sistema ups effective stake in developer Etalon Group to 48.8%

MOSCOW. May 5 (Interfax) - Sistema PJSFC has increased its stake in Russian developer Etalon Group to 48.8% from 29.8%, the investment group reported.

The group subsidiary, Sistema Finance has acquired 72,854,619 Etalon GDR for 4.5 billion rubles.

The deal was made as a result of the expiration of a nondeliverable swap agreement regarding Etalon GDR that Sistema concluded with its financial partner in May 2021.