November 2 (SeeNews) - Russia's top lender Sberbank said on Wednesday it has sold its 43% stake in Croatia's top food manufacturer and retailer Fortenova to businessman Saif Alketbi from the United Arab Emirates.
Alketbi invests in real estate and technology and holds significant investments through various private equity deals, Sberbank said in a statement. It did not disclose the value of the deal.
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Fortenova is Croatia's largest privately-owned group and the successor to the collapsed food-to-retail concern Agrokor.
Sberbank, which is the biggest shareholder in Fortenova, is under international sanctions due to the Russian invasion of Ukraine.
In April, Fortenova said that Sberbank has signed an agreement to sell its entire stake in Fortenova to Hungarian asset manager Indotek. To conclude the transaction, it was necessary to obtain regulatory approvals in several markets, Fortenova said back then.