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Jun 03, 2020 PRINT EDITION

Russian state lender Sberbank says: * Sberbank has completed the sale of its entire 99.85% stake in Turkey's Denizbank to Emirates NBD;

* In line with sale and purchase agreement of Denizbank shares dated April 2, 2019, total revenue is 170.7 billion roubles ($2.69 billion), while Sberbank's investments totalled 148 billion roubles throughout its ownership;

* The deal was valued at 1.0? of Denizbank Group's consolidated under BRSA equity as of Dec. 31, 2018;

* Sale will strengthen Sberbank Group's equity under IFRS by 11.7 billion roubles;

* Sale of Denizbank is anticipated to generate a preliminary negative result of 70.0 billion roubles including recognition of Denizbank's performance for the first seven months of 2019;

* Results of the deal will be recognized in Sberbank Group's Q3 2019 accounts under both RAS and IFRS;

* Under terms of agreement, Emirates NBD will purchase Denizbank's subordinated funding to Sberbank in amount of approximately $1.2 billion;

* Additionally, Denizbank will repay interbank loans previously issued by Sberbank in region of $1.1 billion;

* Transaction will result in total cash inflow exceeding $5 billion.

Copyright Reuters, 2019