OREANDA-NEWS. VTB Group, a major shareholder in Otkritie FC since March 2009, is to sell its 7.96% holding in the Corporation to Sergey Gordeev, a businessman.

"We are glad to welcome our new shareholder into our structure", says Ruben Aganbegyan, Chairman of the Management Board and CEO at Otkritie FC. "During many years of working with us on a number of projects, Sergey has proved to be a reliable partner who sees eye-to-eye with us. We are also determined to continue our cooperation with VTB Group, which will remain a strategic partner of the Corporation."

Yuri Soloviev, First Deputy President and Deputy Chairman of the Management Board of VTB Bank, said: "Today’s sale of the stake in Otkritie confirms that our investment was highly effective. Over the past four years, Otkritie has achieved very impressive results, creating one of the largest private banking groups in Russia. I am confident that VTB Group’s share in Otkritie had a beneficial influence on the company. We will continue to support Otkritie in its current and future projects."

Sergey Gordeev adds: "I see tremendous development prospects ahead of Otkritie, which has demonstrated dynamic growth since its very foundation, "I believe in the strong potential of the Corporation’s strategy aimed at building the country’s largest independent financial business."