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EBRD Buys Transkapitalbank
22.06.2006 00:00
EBRD Buys Transkapitalbank

The European Bank for Reconstruction and Development (EBRD) has approved the acquisition of the blocking share holding (25% plus 1) of ZAO Transkapitalbank. The deal is expected to be finalized by this autumn.
      The banks resources will rise from the current $70m to $110m, a positive step to draw investment. The company is now mulling whether to issue Eurobonds.
      Both organizations have been satisfied with the deal, according to reports. The two companies have had a long partnership in the sector.
      As agreed, a representative of the EBRD will join the board soon.


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