/Update/

MOSCOW, September 2. /TASS/. Sberbank has closed the deal on the sale of its Swiss subsidiary Sberbank (Switzerland) AG to m3 Groupe Holding SA, the Russian bank said in its press release.

"Sberbank closed the deal of selling Sberbank Switzerland AG to Swiss-based m3 Groupe Holding SA, which will be the new major shareholder. The deal arranger - founding partner of Monte Valle Partners international investment company Stephen P. Linch will be the minority shareholder in the bank," the bank said.

Parties received approvals of relevant regulators and authorized agencies to implement the deal, Sberbank added.