VEB.RF acquired 77,64% of PFC CSKA shares
VEB.RF, the Russian state development corporation, acquired 77,64% of PFC CSKA shares as part of the club's debt conversion process. As a result, PFC CSKA had been discharged of a debt while the state corporation became the main shareholder of the club.
The newly board of directors was formed at the meeting with the following composition:
— Member of the Supervisory Board of VEB.RF, Assistant to the President of the Russian Federation Maksim Oreshkin;
— VEB.RF Senior Vice President for Legal Function Igor Krasnov;
— VEB.RF Vice President Aleksandr Chebotarev;
— VEB.RF Urban Economy committee chairman, New Urban Projects CEO Aleksandr Plutnik;
— PFC CSKA President Evgeny Giner;
— PFC CSKA General Director Roman Babayev;
— Mail.Ru Group CEO Boris Dobrodeev.
Igor Shuvalov, VEB.RF chairman:
— In fact, the conversion of 77,63% of the PFC CSKA shares to VEB.RF is a solution to the situation with the debt, which ‘tied’ the hands of the club and was an obstacle to the investments in the development. This decision will support the club in the current economic environment. I would like to mention that there will be no changes to the football management and no course change at PFC CSKA, because Evgeny Giner retains the operation control. The club will follow its strategy in terms of the team formation and will set the highest targets, but now they have a solid and reliable partner. I hope that it will work out with the support of the millions of PFC CSKA fans.
Evgeny Giner, PFC CSKA president:
— I would like to thank VEB.RF management for the constructive position and for the support in the difficult economic situation. The chosen format of the deal will allow PFC CSKA to restructure its financial liabilities and concentrate on the sporting matters. We will continue to build the team that can achieve great results. I am confident that together with our devoted fans and a solid reliable partner, the club will soon be able to regain the leading positions in the Russian football.