National Settlement Depository Acquires Stake in DCC
OREANDA-NEWS. April 13, 2012. National Settlement Depository (NSD), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, reports that on 12 April 2012 it acquired 97.76% of DCC shares.
Eddie Astanin, Chairman of the Executive Board, NSD, commenting on the development, said: "The acquisition of DCC stake by NSD is a part of the plan of integration in respect of MICEX and RTS merger held in 2011. The integration process now is in full swing, it is being implemented in compliance with the plans; it is also being coordinated with our clients."
Maria Krasnova, Chief Executive Officer of DCC, added: "The acquisition of DCC shares by NSD will contribute to more harmonious and efficient interactions of the integrated companies and to optimization of the integration processes."
It is worth reminding that on 30 March NSD's Supervisory Board approved the sale and purchase agreement concluded by NSD and MICEX-RTS for acquisition of DCC's stake. This decision was made as a part of the process of integration of NSD, DCC and Settlement Chamber RTS.
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