FAS okays Nomos-Bank to acquire 61.5% of bank Otkritie
MOSCOW. Sept 23 (Interfax) - Russia's Federal Anti-monopoly Service (FAS) has given Nomos-Bank the go-ahead to acquire 61.5% of the voting stock in the bank Otkritie, the FAS said.
Nomos-Bank acquired indirect control over a 17% stake in Otkritie Bank, part of the Otkritie Financial Corporation, which ultimately plans to consolidate 100% of shares in Nomos-Bank, back in August. Nomos-Bank had not previously owned Otkritie Bank shares. Simultaneously, Otkritie Financial Corporation's stake in Otkritie Bank declined by the same amount: it now directly and indirectly controls 44.52% in the bank, down from 61.52% previously.
Otkritie Financial Corporation acquired 19.9% of Nomos-Bank shares in August of last year. It plans to consolidate 100% of shares within two years and then conduct an IPO. Otkritie plans to have Nomos-Bank become part of the group and take controlling stakes in Otkritie bank and Bank of Khanty-Mansiysk.
The Deposit Insurance Agency (DIA), which has a 24.17% stake in Otkritie acquired during the bank's rehabilitation, will, until September 26, be taking applications to bid at an auction for the sale of the Otkritie stock. The starting price is 7.9 billion rubles. If the auction does not take place an offer, by which Otkritie Financial Corporation will have to purchase the stake, will come into effect.
The FAS said on September 23 that it had cleared Otkritie Financial Corporation to buy the DIA's 24.17% stake in Bank Otkritie.
Nomos-Bank and Otkritie Bank were respectively the 12th and 35th biggest Russian banks by assets as of the end of the first half of 2013 according to the Interfax-100 ranking compiled by the Center for Economic Analysis.