At an extraordinary meeting scheduled for January 22, 2015 shareholders of Bank FC Otkritie will consider the takeover of Petrocommerce, Bank FC Otkritie said in a press release.
Moreover, the shareholders will address issues related to the approval of an agreement on the takeover of Petrocommerce by Bank FC Otkritie, the approval of substantiation of the conditions and the reorganization procedure and how to forward a notice to the Bank of Russia about the beginning of reorganization. On the EGM’s agenda are also such issues as an increase of the charter capital and the amendment of Bank FC Otkritie’s charter.
The acquisition of a 79.3% interest in Petrocommerce by Financial Corporation Otkritie (currently Otkritie Holding, the owner of Bank FC Otkritie, former Nomos-Bank) was announced a year ago and the transaction price was estimated at Rub 15.4 bln.
At that time the parties agreed that Financial Corporation Otkritie would acquire Petrocommerce, while IFD Kapital, a company controlled by Lukoil co-owners Vagit Alekperov and Leonid Fedun, would become the corporation’s shareholder. The financial corporation’s corporate investment unit was planned to be formed based on Financial Corporation Otkritie by taking over Petrocommerce within 2014—2015.
Petrocommerce’s retail assets were expected to go to Bank of Khanty-Mansiysk which specializes in retail banking services.
In the middle of July IFD Kapital Group bought into Otkritie Holding, acquiring 19.9% of the additional shares for Rub 16 bln.
