Aton plans to buy OFG Invest by early 2014
MOSCOW. Nov 28 (Interfax) - The Aton Group plans to complete a deal to buy management company CJSC OFG Invest, which operates under the Deutsche UFG Capital Management brand, in early 2014, Aton CEO Andrei Zvezdochkin said on the sidelines of the Russian Financial Forum organized by Vedomosti newspaper.
"We are awaiting approval from the regulator - the Federal Antimonopoly Service. I think we can complete the deal before the end of the year or, probably, the start of next year," he said.
Aton said Wednesday, November 27, it had reached a deal with Deutsche Bank to buy out OFG Invest. The value of the deal was not disclosed.
Once the deal is finalized the company will not be able to use the Deutsche Bank brand, he said. However, the OFG Invest brand is well known on the Russian market and Aton may keep that brand. "All decisions will be made after the regulator has approved the deal," he added.