MTS-Bank shareholders to discuss merger with Dalcombank on May 14
MOSCOW. April 2 (Interfax) - Shareholders of MTS Bank (former Moscow Bank for Reconstruction and Development ) will hold an extraordinary meeting on May 14 to discuss bank reorganization through a merger with Far East Commercial Bank (Dalcombank, Khabarovsk), MTS Bank said in a press release.
MTS Bank will increase charter capital within the merger, the release says.
Shareholders voting against the merger or abstaining from the vote will be offered the chance to sell their common and preferred MTS Bank shares at 4,500 rubles per share.
Dalcombank has since 2008 been part of the MBRD group together with MTS Bank and East-West United Bank. AFK Sistema is the group's main shareholder.
AFK Sistema is MTS Bank's main shareholder. Dalcombank shareholders are MTS Bank (75.007%) and AFK Sistema (24.993%).
MTS Bank was ranked number 33 by asset value in the Interfax-100 review of Russia's banks in 2011 and Dalcombank was number 118.