Indotek to acquire a 43% stake in Fortenova Group from Sberbank.

Indotek, a European investment fund based in Hungary, agreed to acquire a 43% stake in Fortenova Group, a retail and wholesale, food and agriculture company, from Sberbank, a Russian majority state-owned banking and financial services company. Financial terms are not disclosed. "We welcome the entry of Indotek, which we recognize as a long-term strategic partner, into the co-owenrship of the Fortenova Group and we hope and expect that in the next few months all the approvals required to complete the sale and purchase of shares will be obtained. Regardless of a possible change in co-ownership, the Fortenova Group continues with regular business operations. Our operating companies are successfully managing market disruptions caused by rising operating costs and disruptions in some supply chains, that our many customers do not feel, and we are fully focused on preparing for this year’s tourist season from which we have significant expectations," Fabris Peruško, Fortenova Group CEO and Member of the Board of Directors.