Clifford Chance

Clifford Chance advises BNPP PF on its exit sale of 20.8% stake in Cetelem Bank to Sberbank

A team from Clifford Chance has advised BNPP PF on the exit sale of 20.8% stake in its joint venture Cetelem Bank to Sberbank. As a result of the deal, Sberbank became the sole shareholder of Cetelem Bank.

The joint Russian POS (Point of Sale) finance bank Cetelem was successfully set-up back in 2012 by Sberbank, BNP Paribas Personal Finance, the consumer lending division of the BNP Paribas Group and leading provider of consumer loans in France and Europe.

Currently, Cetelem Bank is the leader in the Russian car loans market for both in terms of portfolio size and sales volumes, providing consumer loans in cooperation with major auto manufacturers and their partners in 75 regions of Russia.

The Clifford Chance team comprised partner and head of tax and financial regulatory practice Alexander Anichkin and corporate senior associates Andrew Robinson and Vitaly Koloskov.