Russian Standard Bank reduces stake in Roust Corporation to 17.55%, stake in Gancia rises to 49.82%
MOSCOW. Aug 30 (Interfax) - Russian Standard Bank reduced its stake in Roust Corporation to 17.55%, the stake in the Italian wine house Gancia rose to 49.82%, the bank said in a report for H1 2016.
The change in stakes occurred in June of this year as a result of an agreement on an exchange of shares by Roust Corporation and Gancia.
At the same time the bank said that it still has a significant impact on Roust Corporation thanks to the valid shareholder agreement. "The evaluation of Roust Corporation shares, which was carried out by an independent evaluator in H1 2016 showed that investments were not impaired," the report said.
The report said that the bank bought 20% of the shares of F.lli Gancia & C. S.p.A. in 2015 from its group for 904 million rubles.
It was reported that 3,687,802 shares with a par value of 1 euro each were bought.