RIA NOVOSTI. The Federal Anti-Trust Service (FAS) has upheld an application submitted by Bank Uralsib to take over Kaliningrad-based Stroyvestbank, RIA Novosti reported quoting the anti-trust authority’s press release.
At present, Stroyvestbank’s major shareholder (86.77% of common shares) is Uralsib Electronic Technologies, a Uralsib subsidiary.
Bank Uralsib is poised to finalize the takeover of regional subsidiaries — Stroyvestbank (Kaliningrad) and Bank Uralsib-Yug (Voronezh) — in the third quarter of 2010. Shareholder meetings held at both lending institutions took reorganization decisions in December 2009. Stroyvestbank specializes in corporate operations. Bank Uralsib-Yug is a universal bank. The merged bank’s charter capital is expected to exceed Rub 29.28 bln.
The companies that make up Uralsib Financial Corporation own in the aggregate 95.9% of Bank Uralsib’s charter capital, 1.6% interest is in the hands of Deutsche Bank and Morgan Stanley each, while 0.8% of the bank’s securities trade on RTS. Nikolai Tsvetkov controls over 90% of Uralsib Financial Corporation.
