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Banks

State vodka producer offers shares to Sberbank

MOSCOW, June 2 (Reuters) - Rosspirtprom, Russia's No.2 alcohol producer, has made an offer to swap shares for distilleries and wineries that Sberbank SBER03.MM holds as a result of loan deals, Kommersant daily reported on Wednesday. The daily said Sberbank, the country's biggest lender, may get up to 49 percent in the state-owned company and clear from its balance sheet some of the non-core assets it has seized during the crisis.

“We have already made an offer to Sberbank to enter Rosspirtprom’s capital,” Vladimir Ivanov, Rosspirtprom’s director general was quoted by Kommersant as saying.

“The size of the stake will be determined by the value of the assets the bank can transfer to the company,” he said, adding that Rosspirtprom is especially interested in alcohol producers Istok and Ost-Alko.

Rosspirtprom last October transfered controlling stakes in the Stolichnaya vodka maker Cristall and 10 other distilleries to state-controlled bank VTB VTBR.MM as part of a debt repayment deal. [ID:nLDE5BK1HT]

Sberbank seized billions of dollars worth of assets ranging from shops to oil fields during the crisis when bad debts soared, and it is hoping to sell these assets within three years. (Reporting by Dmitry Sergeyev, editing by Will Waterman) ($1=31.26 Rouble)

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