Ivanishvili selling Rossiyskiy Kredit Bank to group of private investors for $352 mln
MOSCOW. May 10 (Interfax) - Unicor Group has signed an agreement with private investors for the sale of Rossiyskiy Kredit Bank.
The purchase, which should be closed by September 1, comes to $352 million, the bank said in a statement.
The buyers include the president of IT company Lanit, Georgy Gens, former Globex Bank owner Anatoly Motylev, the former owner of insurance company Spasskiye Vorota, Boris Khait, as well as Boris Pastukhov, Viktor Lukoyanov, and Vladimir Fayerovich.
White & Case consulted the seller while Padva and Partners advised the buyer.
Unicor manages assets belong to Boris Ivanishvili, the former owner of Metalloinvest Holding. The company has four areas of operation: finance (Interfin-Capital, Interfin-Trade), developer operations (hotels and residential projects in Moscow and Sochi), agricultural projects (Stoilenskaya Niva) and pharmacies (Doktor Stoletov).
Rossiyskiy Kredit Bank was 203rd biggest bank in Russia by assets (11.9 billion rubles) at the end of the first quarter of 2012 according to the Interfax-100 ranking. The bank ranked 61st biggest in terms of equity (8.4 billion rubles) among banks in Russia.
The portfolio for corporate loans came to 7.3 billion rubles as of April 1, 2012. The bank's stock investments came to 4.1 billion rubles.
The bank's net assets declined during the two previous years: they went down 13.2% in 2010 and by 12.8% in 2011. At the start of 2010, the bank was 138th biggest by assets (15.1 billion rubles) and 50th in terms of equity (8.3 billion rubles).