Pavlovskgranit share transfer ruled illegal

The Arbitration Court of the Voronezh region of Russia has ruled that 4439 Sberbank’s transfer of 3672 Pavlovskgranit’s shares was illegal and the court has seized the shareholding. The ruling follows the bank’s transfer of a 36.37 % stake in Pavlovskgranit, owned by Vitera, a major shareholder of Pavlovskgranit, to the account of Sberbank Capital, Sberbank’s subsidiary.