Sberbank of Russia announces the sale of its former subsidiary Sportloto LLC – handler of All-Russia Government Lotteries Conducted to Support the Sochi 2014 Winter Olympics and Paralympics, informs the bank in its official press- release.
Sberbank has acquired 74.99% of the company in November of 2010, later consolidating 100% after buying 25.01% in May of 2011. All-Russia Government Lotteries Conducted to Support the Sochi 2014 Winter Olympics and Paralympics project has began in February of 2011. Currently, Sportloto LLC is one of the leaders of the Russian instant lotteries market, as well as the whole Russian lotteries market.
Several Russian and foreign companies have taken an interest in acquiring a part or the whole of Sportloto. It was sold to the company that gave the best proposal.
Author: Irina Fomina