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Article: Binbank acquires 76% in Bashinvestbank.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- November 24, 2008
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Binbank acquires 76% in Bashinvestbank
MOSCOW. Nov 24 (Interfax) - Binbank has acquired a 76% stake in Bashinvestbank, the two banks said in a joint press release.
The agreement for the transaction's finalization was reached on November 21 with the support of the Central Bank of Russia, the National Bank of Bashkortostan and the Deposit Insurance Agency (DIA).
The value of the acquisition and the extent of the DIA's support have yet to be made public.
Vasily Peganov, the former main owner in Bashinvestbank, retains 24% in the bank.
The press release said that in the coming days that Binbank, in conjunction with DIA, will ...