Rosbank shareholders greenlight USD1.6bn capital injection.
BANKING AND CREDIT NEWS-20 July 2010-Rosbank shareholders greenlight USD1.6bn capital injection(C)1994-2010 M2 COMMUNICATIONS http://www.m2.com
20 July 2010 - The shareholders of Russian Rosbank (MCX:ROSB) cleared at an extraordinary general meeting the infusion of some RUB50bn (USD1.64bn/EUR1.27bn) in fresh funds into the bank's capital, it said today.
In particular, the lender will sell in a private offering 497,368,958 common shares to Societe Generale (EPA:GLE) and ICFI (Cyprus) Ltd at a price of RUB100.27 apiece.
The French bank, which has a 64.68% in Rosbank, is seen to purchase up to 406,522,220 additional shares, spending RUB40.762bn.
ICFI (Cyprus), in turn, is expected to acquire 73,909,211 shares in return for property in a deal worth RUB7.411bn.
The beneficiary, controlled by Russian businessman Vladimir Potanin, is also anticipated to buy 16,937,527 shares, paying up to RUB1.698bn.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Jul 20, 2010|
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