Sistema Public Joint Stock Financial Corporation (MISX: AFKS) agreed to acquire 15.32% stake in RTI OAO from JSC VTB Bank (LSE: VTBR) for RUB 4.5 billion in November, 2016. In a related transaction JSC VTB Bank have agreed on long-term financing to RTI OAO. Under the agreements, the entire debt of RTI OAO, with the exception of liabilities pertaining to state defence orders (which are covered by government guarantees), are to be refinanced in 2016-2017 by JSC VTB Bank, which will become the groups major lender, providing up to RUB 28.5 billion in financing. The loan agreements provide for the deferment of a significant portion (about 60%) of RTI OAO debt until 2021, to be followed by annual settlement payments through the end of 2026, as well as a grace period for interest payments. The rest of the debt will be refinanced through five-year revolving credit lines, which will give RTI OAO additional flexibility in managing its working capital. Post-acquisition Sistema Public Joint Stock Financial Corporation will hold 87% of the equity in RTI OAO. The Russian Federal Antimonopoly Service approved the transaction in November 2016.

Sistema Public Joint Stock Financial Corporation (MISX: AFKS) completed the acquisition of 15.32% stake in RTI OAO from JSC VTB Bank (LSE: VTBR) on December 30, 2016.