INTERFAX. VTB is to acquire a 20% stake in financial corporation Otkritie for $150 mln, a source in the financial circles told Interfax-AFI.
“It could be announced in November VTB is to buy 20% of Otkritie” — the same source said noting the transaction involves an option for VTB to buy the corporation’s remaining securities. The source declined to disclose other details of the deal. VTB and Otkritie representatives declined to comment.
The financial corporation’s beneficial owners are its general director Vadim Belyaev and president Boris Mints. Minority stakes are also in the hands of the company’s top managers.
Another source said Badri Gobechiya, executive board chairman who owns around 6% of the corporation’s securities, is to leave management company Otkritie in the days to come.
Otkritie FC’s deputy executive board chairman Natalia Barshchevskaya confirmed in an interview with Interfax the fact of Gobechiya stepping down, adding his official duties will be executed by the management company’s financial director Natalia Chuikova.
Earlier, since the beginning of November senior managing director Andrey Babenko, who also was a partner and owned 4% of the company, left the financial corporation. The corporation bought his equity position.
For the record, in early November Otkritie FC acquired 100% of Russian Development Bank that ranks in the Top 100 of Russian banks in terms of net assets. The corporation said the deal will lay groundwork for the establishment of an investment banking group, whose assets will top $100 bln. Arrangements on the transaction were made with assistance and support from the Central Bank of Russia and the Deposit Insurance Agency within additional measures taken to strengthen stability of the banking system. The transaction price was not disclosed.
