Vozrozhdenie Bank: no confirmation of ownership change; merger due diligence continues
MOSCOW. Aug 10 (Interfax) - Vozrozhdenie Bank has received no official confirmation concerning a change in the structure of the bank's ownership, Vozrozhdenie said in a press release.
"As of the present moment, no official confirmation on deals of change of control was received by the bank. We continue our operations in the ordinary course in accordance with the established procedures," Vozrozhdenie said.
The bank continues due diligence procedures concerning a possible merger with Absolut Bank on the basis of Vozrozhdenie that was initiated in July 2015.
Vozrozhdenie Bank "welcomes the interest of new large investors reflecting the key strengths of the bank - loyal client base, sound business model and high level of corporate governance. It evidences the bank's strong positioning in core niches - lending to SMEs, mortgages, retail deposits - and in the key regions of presence," the press release says.
It was reported earlier that preparations for the merger began at the end of May, when Vozrozhdenie shareholders received a proposal from Absolut's controlling shareholder, the Blagosostoyanie nongovernmental pension fund.
On Monday, it emerged that Promsvyazcapital B.V., a holding company controlled by Dmitry and Alexei Ananyev, had reached an agreement to consolidate a controlling interest in Vozrozhdenie Bank. In a statement, Promsvyazcapital said its purchase of a controlling stake in Vozrozhdenie would not hinder negotiations on a possible merger with Absolut Bank.
