GEM Capital and Industry Partners Corporation acquired LLC "Korund" from VTB Bank (public joint-stock company) (LSE:VTBR) and others on December 24, 2020. Post completion of the transaction, VTB Bank (public joint-stock company) doesn't hold any stake in CJSC Korund. Otkritie Bank has acted as a financial partner for the transaction. GEM Capital and Industry Partners Corporation completed the acquisition of LLC "Korund" from VTB Bank (public joint-stock company) (LSE:VTBR) and others on December 24, 2020. The consideration was partially financed by a loan from Otkritie Bank. The condition of the deal was the refinancing of all loans belonging to the Korund-Tsian plant, as well as financing of the purchase by the investment fund of the GEM Capital.