TCS Holding gains control of 99.4% of Rosbank, readying offer for remaining shares

MOSCOW. Aug 16 (Interfax) - IPJSC TCS Holding has gained control of 99.4% of the shares of PJSC Rosbank, the holding said in a disclosure.

IPJSC TCS Holding now directly owns 91.89% of Rosbank . The holding and its affiliates control 99.4% of the shares including the stake held by LLC Rusfinance, which is a subsidiary of Rosbank itself.

TCS Holding also said that on August 16 it submitted an offer to the Central Bank to buy out the remaining 0.6% (9,211,783 shares) of Rosbank from minority shareholders. The parameters of the offer have not yet been disclosed.