The Volga-Dnepr Group has signed a strategic cooperation agreement with Sberbank covering finance and financial advisory services for the Russian freight specialist's current and future projects.
Signed during the recent St. Petersburg International Economic Forum, the agreement will see Volga-Dnepr Group use Sberbank's expertise and resources to finance not only its future investment banking projects, but also to develop an aircraft leasing project based upon Volga-Dnepr Group's Irish subsidiary.
Additionally, the agreement has provision for financial and advisory services, including those offered by Sberbank CIB, the corporate and investment banking units of Sberbank.
Sberbank (including its subsidiary Sberbank Leasing) and Volga-Dnepr Group have collaborated several times in the past. Since 1997, they have completed projects to acquire and supply Volga-Dnepr Airlines (VI, Ulyanovsk Vostochny) with An-124 freighters and to finance the purchase of B747-400s and B747-8Fs from Boeing (BOE, Washington National) for AirBridgeCargo (RU, Ulyanovsk Vostochny) as well.
