Bank Saint Petersburg has commenced its reorganization by taking over Kaliningrad-based Bank Evropeisky. A relevant notice of the Northwestern Chief Directorate of the Central Bank of Russia was posted on the regulator’s website.
For the record, Bank Saint Petersburg wrapped up the acquisition of a 100% stake in Bank Evropeisky for around $79 mln (based on media reports) this February. The parent bank’s shareholders decided to reorganize the bank in late September.
As written on Bank Saint Petersburg’s website, the reorganization will approximately end on December 31, 2014. The bank specifies that its charter capital will remain unchanged (based on CBR data, it presently equals Rub 459.65 mln and Bank Evropeisky’s charter capital is Rub 155.6 mln).
Meanwhile, in the course of reorganization Bank Saint Petersburg will change its legal status from an open joint stock company to a public joint stock company (PJSC Bank Saint Petersburg).
The media previously wired that upon takeover Bank Evropeisky would retain its brand and would turn into a branch of Bank Saint Petersburg.
