Bank FK Otkrytiye : Otkritie Group Acquires 100% Shares in Arkhangelskgeoldobycha Diamond Mining Company from LUKOIL

Otkritie Industrial Investments, an Otkritie Group company, has acquired 100% shares in Arkhangelskgeoldobycha, one of Russia's largest diamond miners, from LUKOIL. The deal is closed; title to the shares has passed to the new owner. The acquisition value amounted to USD 1.45 billion and was paid in cash.

'Otkritie has acquired one of Russia's best assets in the diamond mining sector, both in terms of production capabilities and estimated reserves. The mining and concentration complex at the Grib mine is a modern facility which, though only recently operational, has already reached its target production capacity. With its advanced technology, the company is a leader of the Russian mining industry in terms of environmental responsibility,' added Dmitry Romaev, Chairman of Arkhangelskgeoldobycha's Board of Directors and Member of Otkritie Holding's Board of Directors.