26 June 2015
VTB and the Dynamo Society public-private association have reached an agreement under which 74% of VTB's shares in Dynamo Moscow football club will be given to the Dynamo Society. The decision was dictated by football's financial fair play regulations.
VTB has granted power of attorney to the Dynamo Central Council to represent VTB and to vote with its shares at general meetings of the football club. Dynamo also has the right to approve documents on behalf of the bank as the club's shareholder.
The share consolidation is expected to be completed in the near future after the required corporate procedures are completed. VTB plans to continue providing comprehensive assistance to Dynamo Moscow in keeping with the financial fair play regulations. VTB has been Dynamo Moscow's general sponsor since 2008.