Russian Regional Development Bank to buy Far Eastern Bank preferred shares
VLADIVOSTOK. Feb 14 (Interfax) - Russian Regional Development Bank (VBRR, Moscow) has asked minority shareholders of the Far Eastern Bank (Vladivostok) to sell it their preferred shares, the Far Eastern Bank reported.
It proposes to pay 290 rubles per share with par value of 11 rubles.
VBRR sent minority shareholders of Far Eastern Bank an offer to buy common shares at 305.3 rubles per share in December 2011.
VBRR owned 96.92% of Far Eastern Bank shares (97.58% of common shares) on December 31 2011, according to the list of affiliated companies.
Russian Regional Development Bank obtained permission from the Federal Antimonopoly Service and the Central Bank of Russia Primorye Territory Office to consolidate 100% of the Far Eastern Bank.
Far Eastern Bank charter capital is 114.89 million rubles, split into 10.09 million common and 359,000 preferred shares with par value of 11 rubles each.
VBRR was ranked number 64 by assets in the Interfax-100 review of Russia's banks for 2011. The Far Eastern Bank was number 102.