PRIME-TASS. Promsvyazbank has announced the buyout of securities from Yarsotsbank shareholders as part of the mandatory offer at Rub 20.33 per share of Rub 20.00 par value, Yarsotsbank reported. Yarsotsbank’s board of directors finds this amount to be the best market price. The mandatory buyout offer will expire on April 14, 2009.
Promsvyazbank owns 51.3% of Yarsotsbank’s securities after it bought this block of shares from Rybinskkhleboprodukt last year.
Yarsotsbank was incorporated in 1990 by the Property Fund of the Yaroslavl region. The lending institution’s charter capital equals Rub 200 mln and is divided in 10 mln common shares with Rub 20.00 par value each. The lender’s major shareholders are Moscow-based SARK LLC (19%), Doile LLC (13.4%) and the Property Management Department of the Yaroslavl region (5.01%).
