November 5, 2019 / 7:48 AM / 8 days ago

Russia's Trust bank reaches deal with Safmar's Gutseriyev

MOSCOW, Nov 5 (Reuters) - Russia’s Trust bank said on Tuesday it has reached “dispute settlement” with Mikhail Gutseriyev’s Safmar group over worth more than 135 billion roubles ($2.13 billion).

Under the deal, Safmar will buy assets from Trust bank worth around 94 billion roubles and restructure other assets, currently belonging to Trust, worth 41 billion roubles.

Trust said that Mikail Shishkhanov, Gutseriyev’s nephew, is not part of the deal.

After the deal, Trust agrees to drop any claims it may have towards the assets which are part of the agreement.

Reuters first reported the pending deal last week.

$1 = 63.2825 roubles Reporting by Tatiana Voronova; writing by Katya Golubkova; editing by Jason Neely

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