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VTB closes offer to Bank of Moscow shareholders

 
17 May 2012
VTB Group has completed its offer to shareholders in Bank of Moscow (BoM). As a result, the Group has increased its holding in BoM’s equity by less than 0.03% to 94.87%, through VTB Debt Centre and VTB Pension Administrator, BoM’s major shareholders. 

The offer was made in March. Only shareholders who held their shares at the date VTB made its acquisition of the Moscow city government’s stake in BoM were eligible. The offer applied to 1,030 BoM shareholders – holding up to 0.05% of the bank’s shares. Less than 80 shareholders accepted the offer, and sold the Group 75,700 BoM shares for a total consideration of RUB 84 million.

 
 
 
 
Ekaterina Petelina, VTB’s Management Board
"We are satisfied with the results of the offer. Its main goal was to provide an opportunity for shareholders to sell their shares at the price they purchased them from the Moscow city government. All shareholders willing to accept the offer were able to exercise their rights".
Ekaterina Petelina ,
VTB’s Management Board

Ekaterina Petelina, member of VTB’s Management Board said: “We are satisfied with the results of the offer. Its main goal was to provide an opportunity for shareholders to sell their shares at the price they purchased them from the Moscow city government. All shareholders willing to accept the offer were able to exercise their rights”.

For reference:

VTB Bank and its subsidiaries (VTB Group) form one of the leading Russian financial groups offering a wide range of banking services across Russia, the CIS region, in a number of countries of Western Europe, North America, Asia and Africa. The Group’s sales network consists of offices located in Russia, the CIS, and Europe.
In Russia, the Group conducts its banking business through one parent bank (VTB Bank) and five subsidiary banks, of which VTB24, Bank of Moscow, and TransCreditBank are the largest.
Outside Russia, the Group operates through 15 bank subsidiaries in the Commonwealth of Independent States (Armenia, Ukraine (two banks), Belarus (two banks), Kazakhstan and Azerbaijan), Europe (Austria, Cyprus, Germany, France, Great Britain and Serbia), Georgia, Africa (Angola), two representative offices located in Italy and China, two VTB Bank branches in China and India, and four branches of VTB Capital in Singapore, Dubai, Hong Kong and New York.
As of 31 December 2011, VTB Group ranked second largest Russian financial group by assets (RUB 6,789.6 billion), and customer deposits (RUB 3,596.7 billion).
VTB’s core shareholder is the Russian government, which has a 75.5% stake in the Group’s equity through the Federal Agency for State Property Management.

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