VTB completes the first phase of TCB acquisition
31 December 2010
As part of the phased acquisition of OJSC TransCreditBank (TCB) approved by VTB’s Supervisory Council
on October 4, 2010, VTB consolidated 43.2% of TCB registered ordinary shares as of December 31, 2010. The shares were purchased from the company’s minority shareholders.
VTB Capital acts as the exclusive financial adviser to VTB in the acquisition of TCB.
On October 4, 2010, VTB’s Supervisory Council approved the phased acquisition of 100% of TransCreditBank. The acquisition includes TransCreditBank and all of its subsidiary businesses including leasing, factoring (JSC TransCreditFactoring) and investment businesses (TKB Capital).
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