VTB Capital, Invitalia sign memorandum of understanding
MOSCOW. July 9 (Interfax) - Russian investment bank VTB Capital and Italy's national agency for inward investment promotion and enterprise development Invitalia have signed a memorandum of understanding, VTB Capital said in a statement.
"The memorandum of understanding allows for joint initiatives between the two partners aimed at a mutual exchange of information on investment policies, activity promotion and potential investors. More specifically, Invitalia will constantly be informing VTB Capital about investment opportunities in Italy, allowing VTB Capital to promote them within the Russian business community," the press release said.
"The cooperation will allow VTB Capital and Invitalia to develop joint business opportunities and other projects involving Russian and Italian companies, funds, government agencies, individuals and assets. Invitalia will also supply Russian investors with a wide range of free services, including market analysis, location sourcing and assistance with documentation," VTB Capital reported.
"The memorandum of understanding will benefit both organizations and potential investors with improved professional services at every stage of the investment process and business development," the statement said.
"VTB Capital continues to work on an international expansion that captures cross-border opportunities for our Russian clients as well as target inward investments towards the country. We anticipate substantial opportunities from this partnership with Invitalia that will provide a window into Italian opportunities and relationships with Italian companies. Italy has been traditionally the fourth-largest trading partner of Russia," Deputy CEO of the VTB Group and Head of Global Banking at VTB Capital Riccardo Orcel is quoted as saying in the press release.
Earlier last year, VTB Capital and Evercore Partners, one of the leading American companies in the field of independent financial consulting, established a strategic cooperation agreement to work together in developing cross-border transactions between Russia and North America. Also in 2012, VTB Capital announced a strategic cooperation agreement with BTG Pactual, a leading investment bank in Brazil, to explore opportunities between Russia and Latin America.