Don Story has refuted reports on the transfer of Sberbank of its assets in the debt restructuring of $ 500 million

Press office of the group of companies Don Story has refuted information that the developer will give Sberbank of Russia half of the business of building commercial real estate under an agreement on debt restructuring of $ 500 million

In particular, it called false information thatin the restructuring of Sberbank will receive more than 50% interest in OOO DS Development (a subsidiary of Dong-system, involved in the construction and management of commercial real estate).

In addition, the company's press service denied the existence of the debt Don Story before Vnesheconombank $ 8 billion rubles.

article, which appeared above statements is based on unverified facts and assumptions, said the report developer.

September 1 in the Kommersant newspaper published an article in which he asserted that before the end of September Savings Bank and Don Story will sign a memorandum on the restructuring of debt of $ 500 million was reported, Savings Bank will go than 50% interest in OOO DC Development and Business Center Nordstar Tower area of 147 thousand square meters. m. near the metro station Coast. According to the publication, the deal would be symbolic and would be several hundred rubles.

August 25 JSC VTB Bank and the shareholders of the companies Don Story has signed a memorandum under which the bank transferred to 50% plus one share in ZAO Don Story Invest . As the main creditor and a financial partner bank plans to restructure the current debts of the CC's Don-Story in front of the bank, as well as provide the team with additional project financing.

The parties intend to complete the deal by January 15, 2010. The amount of debt to the developer VTB is $ 500 million
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