Sberbank supervisors to confirm details of Troika Dialog buy Feb 25 - source
MOSCOW. Jan 31 (Interfax) - The supervisory board at Sberbank of Russia will convene February 25 to confirm the details of the bank's purchase of Troika Dialog , and the buy itself may be announced this week, sources in financial circles have told Interfax.
"There will be a Sberbank supervisory board meeting on February 25, at which the purchase of Troika will be discussed," one source said.
Another source said plans call for the announcement at a Troika Dialog forum this week that Sberbank had made the decision to acquire the investment company. But the details of the deal have yet to be finalized between the parties and will be determined at a later date.
Sberbank decided at the end of December that it was going to expand its investment business around Troika Dialog, a source told Interfax earlier this month.
The bank has been making active preparations to develop its investment business for months. Sberbank had weighed the possibilities of creating a business from scratch or the purchased of established investment companies, either Russian or foreign.