VTB Group today announced key parameters of a buy-out of VTB Bank ordinary shares from shareholders who acquired the Bank’s shares as a result of initial public offering in May 2007.
The buy-out will be held in the form of an offer by a VTB Group company to purchase the Bank’s ordinary shares.
The key parameters of the buy-out are as follows:
- Eligible to take part in the offer will be shareholders, who (1) acquired VTB Bank shares during the initial public offering in May 2007 and (2) held these shares on 1 February 2012.
- The buy-out price is 13.6 kopecks per share
- The maximum buy-out amount paid per each single shareholder is set at RUB 500,000.The offer is expected to take place in March – April 2012.