VTB Group has completed a deal to exit the capital of the Otkritie financial corporation by selling a 7.96% stake to former senator Sergei Gordeev, the reported on Thursday. bank’s press service

“VTB Group has completed the sale of a 7.96% stake in Otkritie FC,” reported the bank’s press service . VTB did not disclose the amount of the transaction.

Entering into the capital of Otkritie was a strategic investment of the VTB Group, the message quotes the words of the first deputy president and chairman of the board of VTB Bank, Yuri Solovyov. “Over the past four years, Otkritie Financial Corporation has achieved impressive business results, in particular, creating one of the largest private banking structures in Russia. I am confident that VTB Group’s participation in the capital of Otkritie Financial Corporation has had a positive impact on the development of the company. We will continue to support the Corporation within the framework of its current and new projects,” Soloviev said.

VTB Bank played a big role in Otkritie’s cooperation with energy companies. In 2008, RAO UES sold 1.4 billion shares, purchased from minority shareholders for a total of 45 billion rubles, to the Otkritie UES Capital Partners fund, created by Otkritie together with the Cypriot subsidiary of VTB - Russian Commercial Bank. In July 2008, Otkritie UES Capital Partners' assets amounted to $2.4 billion, but after the crisis they depreciated. The debt to the main creditor, VTB, was restructured and partially converted into shares of the Otkritie financial corporation. Thus, at the beginning of 2009, VTB, having paid an additional 5 billion rubles, became the owner of 19.9% of Otkritie FC and entered into the capital of the fund. After several additional issues, its share decreased to 7.96%. The capital of Otkritie Bank is now 22 billion rubles.

Currently, Otkrytie is preparing to take over Nomos Bank (capital - 87 billion rubles). As part of the deal, the financial corporation is conducting an additional share issue in the amount of 30 billion rubles. According to a Forbes source, the capital of the merged bank will be approximately $4 billion. In the merged bank, 25% will belong to the co-owner of Otkritie Vadim Belyaev , 10% each will belong to another co-owner of Otkritie Boris Mints , the main shareholder of Nomos Bank Alexander Nesis (No. 414 on the global list of billionaires 2013 , net worth: $3.3 billion), Nomos Bank minority shareholder Alexander Mamut (No. 641 on the global list of billionaires 2013 , net worth: $2.3 billion) and the East group. The shares of two more Otkritie shareholders, IFC and DIA, will apparently be diluted to less than 5%.

VTB Group sold its stake in Otkritie