PRIME-TASS. Kazakh Eurasian Bank has announced the acquisition of Russia’s Troika Dialog Bank, Prime-TASS wired.
On December 14, 2009 in Moscow Eurasian Bank signed a stock purchase agreement with Troika Dialog Investment Company and Troika Dialog Financial Consultant on the acquisition of a 100% stake in Troika Dialog Bank, Eurasian Bank’s press service said in a statement that was released in Almaty Tuesday.
The deal’s structure stipulates that Eurasian Bank’s sole shareholder — Eurasian Financial Company — will act as the nominal buyer and will acquire for the lender 1 stock of Troika Dialog Bank (100% of the charter capital). In addition, Eurasian Bank does not disclose the transaction price or other parameters of the transaction.
Troika Dialog Investment Group’s press service intends to comment on the statement later.
The deal is scheduled for completion in January-March 2010 upon receipt of all required permissions and approvals from Kazakh and Russian regulatory authorities, including the change of the bank’s corporate name to Eurasian Bank. International law firm Salans acts as legal advisor to the deal.
