RIA NOVOSTI. Zetilia Overseas ltd, registered in the British Virgin Islands, has sold all the shares it held in Bank Nizhny Novgorod (13.54%), that is being rehabilitated by Promsvyazbank, the Nizhny Novgorod-based lending institution said in official documents.
According to a statement, Zetilia Overseas ltd alienated the securities on the basis of a mandatory offer made by Promsvyazbank to pick up stocks of Bank Nizhny Novgorod. Information about the transaction executed reached Bank Nizhny Novgorod on Thursday.
As wired earlier, Zetilia Overseas ltd acquired Bank Nizhny Novgorod securities at the end of 2008. Moscow-based Promsvyazbank, Russia’s Top 30 bank, grabbed an 85.1% stake in Bank Nizhny Novgorod on December 30, 2008 as part of an agreement signed with the Deposit Insurance Agency (DIA) on the lender’s rehabilitation. Bank Nizhny Novgorod is No. 3 lending institution in the region and at the beginning of the year its assets accounted for 1.3% of Promsvyazbank’s assets. The regional bank operates 12 sales offices in the Nizhny Novgorod region. Bank Nizhny Novgorod’s charter capital is equal to Rub 622.16 mln and is divided in 353.5 mln common shares with Rub 1.76 par value each.
