OREANDA-NEWS. On July 14 2008 in line with its stated policy of increasing balance sheet efficiency by the sale of non-core assets, VTB Bank has disposed of its entire holding of 21,253 shares (10,63%) in AK "Alrosa" (ZAO) as part of the agreement with the Federal Property Management Agency (Rosimushchestvo), reported the press-centre of VTB Group.

According to the provisions of the transaction, the cash proceeds for the deal amounts to RUR 8.7 billion. The finalization of settlements and procedures related to the transaction are expected to be completed within the third quarter of 2008.