Sberbank, Sukhoi Civil Aircraft and Invest AD Signed a Tri-lateral Letter of Intent/18.11.2013

 18 November 2013, Dubai – On the ground of Dubai Airshow 2013 Sberbank, Sukhoi Civil Aircraft (SCAC) and Abu Dhabi Investment Company “Invest AD” signed a tri-lateral Letter of Intent to launch their cooperation in the Middle East in marketing and promotion of Sukhoi Superjet 100 in its basic and long range modification.

As an outcome of the signing ceremony, Alexander Dementiev as Global head of Financial Institutions at Sberbank, stated: “In the light of the recently adopted Sberbank Development Strategy for 2014-2018 we aim at becoming a global partner for our clients. Sukhoi Civil Aircraft Company is a leader of the Russian aviation industry and one of Sberbank’s key clients. We are ready to support its interests at any spot in the world. Together with Invest AD as our strategic partner in the Middle East and Africa, we will support and help Sukhoi Civil Aircraft Company and the Russian Federation in promoting the Russian aviation industry production in this strategically important region of the globe.”

Andrey Kalinovsky, SCAC President noted: “Currently, the Middle East is one of the priority markets for SSJ100. In this regard, today we signed the Letter of Intent in order to optimize funding proposals related to purchase of our aircraft by new customers in this, promising for the Sukhoi Superjet 100 project, region”.

Nazem Al Kudsi, General Director of Invest AD, commented: “Invest AD is proud to support Sberbank’s strategic clients like Sukhoi in establishing a presence and developing operations in the UAE to cover the Middle East region”.

Sberbank of Russia is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank’s authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 110 million individual customers and 1 million corporate clients in 20 countries. Sberbank has the largest distribution network in Russia with more than 18,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.

The Bank holds the general banking license No.1481 issued by the Bank of Russia. 
The official website is www.sberbank.ru.

Sukhoi Civil Aircraft Company (SCAC):  The Company’s shareholders are the Sukhoi Holding owing 75% – 1 share and the Italian Alenia Aermacchi, a Finmeccanica Company, holding 25% + 1 share since April 7, 2009. Sukhoi Civil Aircraft was founded in 2000 to develop new regional aircraft projects. SCAC is in charge of the aircraft development and production. The company is also responsible for SSJ100 marketing, sales in Russia, the CIS, China, India, Middle East and Southeast Asia. Headquartered in Moscow, SCAC has several production branches seated in Russian cities of Komsomolsk-on-Amur, Novosibirsk and Voronezh. Sukhoi Superjet 100 family is the main project of the Company.

InvestAD is a state joint stock company, a part of the sovereign fund of Abu Dhabi. It specializes on investment and management of the assets of the sovereign wealth fund, investment banking services to the clients on M&A transactions, capital raising for the clients in the debt and global equity markets, infrastructure projects, real estate investment, Islamic financing. 
The official website is www.investad.com.