OREANDA-NEWS. August 17, 2012. Otkritie Financial Corporation announces that it acquired 18,392,052 NOMOS Bank shares (represented by 36,784,104 ADRs) from PPF Group in a share swap deal. In consideration for its interest in NOMOS Bank, PPF Group received a stake in Uralkali.

The swap ratio used by the companies was 3.44 Uralkali shares for 1 share in NOMOS Bank, or 0.344 Uralkali GDR for 1 NOMOS Bank GDR.

Swap date: 18 June 2012.

The Uralkali shares used in the swap had been purchased from ICT Group.

The purchase price of NOMOS Bank shares was RUB 12,812,271,006, while the swap transaction costs amounted to RUB 1,266,576,000 bringing the total transaction value to RUB 14,078,847,006.

The deal was settled at the close of business on 10 August 2012.

This deal is a strategic investment for Otkritie. NOMOS is one of Russia’s largest banks set to further expand its operations, so we see a solid upside to its stock in the long run.