VTB reaches an agreement with Bonum Capital on the acquisition of Bank Vozrozhdenie

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JSC VTB Bank (VTBR) 
VTB reaches an agreement with Bonum Capital on the acquisition of Bank 
Vozrozhdenie 
 
14-Aug-2018 / 16:44 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
Press release 
 
14 August 2018 
 
      VTB reaches an agreement with Bonum Capital on the acquisition of Bank 
                                                                Vozrozhdenie 
 
     VTB and Bonum Capital (Cyprus) LTD have agreed on the key terms for the 
     acquisition of Vozrozhdenie Bank by VTB and signed a memorandum to this 
                                                                     effect. 
 
       According to the agreement with Bonum Capital, which will arrange the 
 transaction, VTB intends to buy a controlling stake in Vozrozhdenie Bank of 
         at least 75 percent. The transaction is expected to be completed in 
September once required regulatory approvals are obtained and VTB's internal 
               corporate procedures regarding the transaction are completed. 
 
    Following deal closure, VTB will identify next steps on the integration, 
  which is expected to be concluded in 2020. Vozrozhdenie Bank's development 
   strategy will aim to further strengthen its foothold in the Moscow Region 
                          with a focus on both retail and corporate clients. 
 
        The parties of the transaction intend to retain the key products and 
         services available to Vozrozhdenie Bank customers in the retail and 
      corporate segments. The Bank will benefit from access to technologies, 
  product capabilities and financial strength of VTB Group in developing its 
                                       franchise and competitive advantages. 
 
  Gennady Soldatenkov, currently a Member of VTB Bank Management Board, will 
      be appointed the Chairman of Vozrozhdenie Bank's Management Board. The 
  current Chairman of Vozrozhdenie Bank's Management Board Mark Nakhmanovich 
will continue as the Deputy Chairman of the Board of Directors. Vozrozhdenie 
   Bank's team, with its extensive experience in Moscow and other regions of 
                                    operation, will also remain at the bank. 
 
ISIN:          US46630Q2021 
Category Code: MSCM 
TIDM:          VTBR 
LEI Code:      253400V1H6ART1UQ0N98 
Sequence No.:  5870 
EQS News ID:   714233 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

August 14, 2018 10:45 ET (14:45 GMT)