Bank Petrocommerce Will Become Part of Otkritie Corporation
OREANDA-NEWS. IFD Kapital Group and Otkritie Financial Corporation have announced a new stage of strategic partnership. Otkritie Financial Corporation will become the owner of Bank Petrocommerce, and IFD Kapital Group - one of the Corporation's shareholders.
The project will be launched in 2013 and will be implemented by the end of 2014, once all regulatory approvals are in place.
Otkritie Financial Corporation will make a 19.9% additional share issue in favour of IFD Kapital. The issue proceeds will be used to acquire at least a 95% stake in Bank Petrocommerce, including 79.3% of shares owned by IFD Kapital, and minority shareholdings.
The additional share issue of Otkritie Financial Corporation will amount to at least RUB 15 bln. The acquisition price will be based on the estimated value of 95% shares in the amount of RUR 18.5 bln.
Vladimir Rykunov, who is currently member of the Management Board and Financial Director of NOMOS-BANK, will become the Chairman of the Management Board of Bank Petrocommerce. The documents required for his approval will be sent to the Central Bank of Russia in the near future.
Vagit Alekperov, President of LUKOIL: "Bank Petrocommerce has been LUKOIL's primary bank for many years. I am sure that as part of Otkritie Financial Corporation, the Bank will boost its capacities of financing our major investment projects and servicing the Company's employees".
Vadim Belyaev, Chairperson of the Management Board of Otkritie Financial Corporation: "We are glad that our successful cooperation with IFD Kapital is reaching a new level. New strong shareholders and acquisition of Bank Petrocommerce contribute to meeting our strategic objective - building the biggest independent player in the Russian financial market with a diversified shareholder structure, which expands the range of our development capacities".
Olga Plaksina, Chairperson of the Management Board of IFD Kapital: "In our opinion, this project has robust potential: we become shareholders of one of the most dynamically growing players of the Russian financial market, and Bank Petrocommerce will be managed by one of the most professional teams in Russia with many years of unique expertise and a positive track record in terms of bank asset management".
Комментарии