VEB, EDB, Raiffeisenbank get 38% of Acron subsidiary in long-term funding deal

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VEB, EDB, Raiffeisenbank get 38% of Acron subsidiary in long-term funding deal

MOSCOW. Nov 1 (Interfax) - A Group of banks including Vnesheconombank (VEB), Eurasian Development Bank (EDB) and ZAO Raiffeisenbank has received 38% of Acron subsidiary Verkhnekamsk Potash Company (VPC) as part of a deal to raise long-term funding for the development of the Talitsky section of the Verkhnekamsk potassium-magnesium salts deposit in the Perm territory, Acron said in a statement.

The Acron group retains 61.95% of VPC via OJSC Acronit.