INTERFAX. Morgan Stanley has put up for sale City Mortgage Bank (CMB). As the investment companys representative told Interfax-AFI, CMB is ready to accept offers from investors to pick up CMB.
CMB, whose major shareholder before Morgan Stanley was Rosgosstrakhs beneficial owner Daniel Khachaturov, specializes in mortgage lending. In Q108, CMB ranked 142nd in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA.
Morgan Stanley bought CMB at the end of 2007. The transaction price was not disclosed, but based on Vedomostis information, it equaled $185 mln.