SFI sells stake in oil company Russneft

MOSCOW. July 18 (Interfax) - SFI , formerly known as Safmar Financial Investments, has completely divested its stake in Russian oil company Russneft, a spokesman for the investment group said.

In a disclosure of a material fact published Wednesday, SFI said its stake in Russneft dropped 9.848616% to 1.120394% at the beginning of May.

"PJSC SFI did in fact carry out a number of exchange and over-the-counter transactions in the second quarter of 2024, as a result of which it reduced its equity stake in oil company PJSC Russneft to zero. The sale of shares from the portfolio of financial investments, which included the Russneft shares, upon reaching an attractive price is consistent with the principles of our investment activities," the SFI spokesman told Interfax.

SFI is a public investment holding company that owns 87.5% of leasing company Europlan , 49% of insurer VSK, 51% of gaming service GFN.RU and 10.4% of consumer electronics retailer M.Video .