Alfa Bank looking to sell stake in Moscow Exchange
MOSCOW. Nov 2 (Interfax) - Alfa Bank is looking for a buyer for its stake in OJSC Moscow Exchange MICEX-RTS, two financial market sources told Interfax.
"Alfa Bank is offering to sell its shares in the exchange," one of the sources said.
However, according to another source, the bank has already found a buyer and is even considering buying out other shareholders to resell them to the buyer. The buyer is willing to shell out $1.95, or about 61 rubles, per share, the source said.
A source with knowledge of the situation told Interfax that Alfa Bank is in talks about selling its stake in Moscow Exchange, but it has not decided on a buyer yet.
"I can't say with total certainty that there will be a deal," the source said.
Alfa Bank currently owns a little more than 1.8% of Moscow Exchange's stock.
As reported, the company Olma has offered to buy Non-Commercial Partnership RTS' 0.9% stake in the exchange in the interests of its client for $1.69 (53 rubles) each, a source told Interfax.
At the beginning of this year, the European Bank for Reconstruction and Development (EBRD) and the Russian Direct Investment Fund (RDIF) became shareholders in Moscow Exchange for 58 rubles each, according to sources. Later, international direct investment fund Cartesian Capital bought into the exchange, and the RDIF raised its stake without disclosing the price of the deal. However, Interfax sources said that the price was the same as under RDIF's original purchase, at 58 rubles per share.
Moscow Exchange shares are traded in the RTS Board system. The last deal was made on October 17 at $1.80 (56 rubles) per share.
Moscow Exchange plans to conduct an initial public offering (IPO) in the first half of next year. Its chief Alexander Afanasyev has said that it will technically be ready for an IPO by this coming February.
