Oct 23 (Reuters) - The European Bank for Reconstruction and Development (EBRD) has sold its 5.3% stake in Moscow Exchange to IT company Softline, Forbes Russia reported on Monday, citing two people familiar with the matter.
The EBRD last year said it was working on exiting Russia as quickly as possible after its board of governors voted to suspend access for Russia and Belarus to its financing and other resources in April 2022, in response to Moscow's invasion of Ukraine.
Forbes Russia reported that the EBRD had sold its stake in Russia's largest bourse to Softline at a discount of 60% and made a 20% contribution of the sale price to Russia's budget, requirements imposed by Moscow.
The EBRD and Softline did not immediately respond to requests for comment. Moscow Exchange said it never comments on the actions of its shareholders.
Russia has steadily tightened exit requirements for departing foreign companies, now demanding a 50% discount on any sale and a contribution to the Russian budget of at least 10% of the sale price, dubbed an "exit tax" by Washington. Executives say navigating the rules is becoming harder.
Softline last year separated from its global partner, now called NOVENTIQ. In September, Softline's shares began trading in Moscow after a direct listing.
The EBRD has not put new money to work in Russia since Moscow annexed Crimea from Ukraine in 2014. The lender had also introduced a moratorium on new investment in Belarus following the country's disputed 2020 election. (Reporting by Alexander Marrow; Editing by Kirsten Donovan)
