FC Dynamo Moscow controlling stake acquisition by VTB, debt restructure confirmed
VTB [MCX: VTBR] has confirmed the acquisition of the controlling stake in FC Dynamo Moscow football club, according to Russian online daily RBK (RBC) , which cited a press statement received from Russia’s state-run lender.
VTB completed the deal for the purchase of the controlling stake in FC Dynamo Moscow for RUB 1 (one), and simultaneously, the restructuring of the RUB 5.3bn (USD 82m) debt owed by the football club to Russian sports society, All Russian Fitness-Sports Society Dynamo (VFSO Dynamo), was resolved.
The debt will be repaid within eight years in equal installments without interest, the item reported citing VTB