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VTB provides financing to Soda company

 
13 December 2012

As part of its bid to expand cooperation with major chemical companies, VTB in the fourth quarter of 2012 provided the Soda company financing in the amount of RUB 1.02 billion for its current activities.

The formation of the Bashkirskaya Soda Company, resulting from the merger of Soda, Kaustik and Bereznikovsky Sodovy Zavod, was announced on December 13.

 
 
 
 
«The bank regards the united company as its long-term partner and will facilitate its further development. We are positive about the planned merger of Soda, Kaustik and Bereznikovsky Sodovy Zavod companies. This is an important stage in the realisation of the strategy adopted by the shareholders of these companies to build a large multi-profile chemical holding. This step will substantially increase the investment potential of the united company and opens more opportunities for its development both through organic growth and mergers and acquisitions».
Yuri Soloviev,
First Deputy President and Chairman of VTB Bank Management Board

VTB has been a financial partner of Soda since 2005. The bank provides the company with a broad range of investment banking services that allow it to operate effectively.

For reference:

Soda (Sterlitamak, Republic of Bashkortostan) was established in 1945. The company is one of the biggest producers of soda ash in Russia and other CIS countries.
Kaustik (Sterlitamak, Republic of Bashkortostan) is one of the biggest producers in Russia of chlorine- and hydrocarbon-based chemicals.
Bereznikovsky Sodovy Zavod (Berezniki, Perm Territory) is of the biggest producers of soda ash in Russia.


Tags:
VTB Bank, lending

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