Russia’s e-commerce pioneer Ozon, banking giant Sber settle mutual claims

Business & Economy November 12, 2020, 15:55

The companies continue developing cooperation in different areas, according to Ozon

MOSCOW, November 12. /TASS/. The e-commerce platform Ozon and Sber have settled their differences and do not have mutual claims anymore under the agreement of intent, Ozon told TASS and Sber confirmed this statement.

"Ozon and Sber have settled differences related to the agreement of intent earlier made by and among the company and its major shareholders and Sberbank. The companies say the disagreements have been fully settled; the parties have no more claims against each other in respect of any mutual commitments under the agreement of intent and related payments. Sber and Ozon continue developing cooperation in different areas," Ozon said.

"The differences have been fully settled. The parties have no more claims against each other concerning any mutual commitments whatsoever under the agreement and regarding related payments," the press service of Sber confirmed.

Ozon Holdings PLC had earlier filed an F-1 application with the United States Securities and Exchange Commission regarding the anticipated initial public offering of US depositary receipts. In particular, the F-1 form specified that in September 2020, Ozon terminated the agreement made by and among Ozon, the company’s majority shareholders and Sberbank. According to the terms of that deal, Ozon had to pay 1 bln rubles ($12.9 mln) to Sberbank.

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