Russian gov’t buys almost 100%-share of bank in Azerbaijan
By Trend
VTB Group completed the transaction for the purchase of 99.99 percent of shares of OJSC VTB Bank (Azerbaijan), says a message posted on November 14 on the corporate information disclosure website of Russia.
The message says that VTB Bank 24, a member of VTB Group, bought 48.99 percent of shares owned by AtaHolding. The deal entered into force on November 10, 2017.
Thus, shares of OJSC VTB Bank (Azerbaijan) are distributed between VTB Bank (51 percent) and VTB Bank 24 (48.99 percent), as well as by an individual, Adigozal Agayev (0.01 percent).
It became known in VTB Bank (Azerbaijan) in July 2017 that VTB Bank 24 will buy shares of AtaBank. Then it was reported that the total value of the transaction is approximately $31.4 million.
Earlier this year, AtaHolding also sold its 100-percent share in AtaBank. Another big holding company of Azerbaijan – Synergy Group – became the new owner of the bank. After the entry into force of both transactions, AtaHolding left the Azerbaijani banking market.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!