RIA NOVOSTI. After the European Bank for Reconstruction and Development (EBRD) Swedish investment fund East Capital has discontinued its participation in the capital of Bank Kedr, selling its equity stake to leasing firm Extroleasing, RIA Novosti wired.
Extroleasing is a subsidiary of Unicorbank which it bought from Latvia’s Parex banka last September.
East Capital bought into Bank Kedr in November 2006, buying an 18.75% interest.
At the end of 2011 the media wired that the European Bank for Reconstruction and Development (EBRD) pulled out of Bank Kedr. EBRD sold its 18.75% holding to another person affiliated with Unicorbank, Valentina Kozub, the then board chairwoman at Unicorbank. EBRD pulled out of Bank Kedr in accordance with the shareholders agreement signed in 2006.
