OREANDA-NEWS. Prior to the end of 2016, Vnesheconombank is to acquire RUB 75bn worth of additional shares in joint-stock company VEB-Leasing in a private placement to raise the subsidiary’s capital. The deal has been approved by the Supervisory Board of Vnesheconombank at its meeting on 27 September.

The capital increase of VEB-Leasing will be conducted through conversion of its liabilities to Vnesheconombank into the subsidiary’s capital without raising any additional liquid assets.

The decision is designed to improve financial viability of VEB-Leasing allowing it to focus on the promotion of the Russian industries that are of top priority for Vnesheconombank, in particular, infrastructure, manufacturing and support for exports.