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26/05/2014
16:23
M&A: FAS Russia grants application of Otkritie Bank

Russia's Federal Antimonopoly Service granted the application of Otkritie Bank (JSC) for the acquisition of a 51% equity stake in Otkritie Life Insurance LLC, the regulatory body informed.

As a result of this transaction, Otkritie Bank will consolidate 99.99% of the insurance company's authorized capital.

Otkritie Bank (JSC) (tax number: 7744003399) is a universal bank providing a whole range of retail, corporate and investment services. The bank has a well-developed branch network consisting of over two hundred offices and outlets in 32 regions of the Russian Federation. Following the turnaround, three banks (Commercial Bank Otkritie, Bank Petrovskiy and Otkritie Investment Bank) were merged under a single brand. Later, Otkritie Bank completed the takeover of Sverdlovsky Gubernsky Bank.

The bank's controlling shareholder is Otkritie Financial Corporation. One of Otkritie FC shareholders is VTB Group. Other shareholders of Otkritie Bank are Russia's Deposit Insurance Agency and International Finance Corporation (IFC).


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