17 Sep 2021 11:56

Kazakhstan investor buys APB from CBR, outbidding PSB, Sovcombank at auction

MOSCOW. Sept 17 (Interfax) - Pioneer Capital Invest LLP, an investor from Kazakhstan, is to be the new owner of Asian-Pacific Bank (APB), the Central Bank of Russia (CBR) said in a statement on Friday following the results of the auction held for the sale of 100% of APB's shares.

The auction was held in closed form, with three of the four participants invited by the CBR taking part. In addition to the winner, Promsvyazbank and Sovcombank participated. The fourth invited investor refused to participate in the auction and did not apply.

Pioneer Capital Invest offered the winning bid of 14 billion rubles. In accordance with the terms and conditions of the sale-and-purchase agreement for the shares, Pioneer Capital Invest will also transfer a part of APB's net profit for 9M 2021 to the CBR by November 30.

In accordance with the terms of the auction, the transfer of ownership of APB's shares to Pioneer Capital Invest is expected by November 1.

Pioneer Capital Invest LLP already has a presence on the Russian banking market through its ownership of Quant Mobile Bank , formerly Plus Bank, which ranks 122nd in terms of assets for the second quarter in the Interfax-100 ranking prepared by the Interfax Center for Economic Analysis. APB ranks 49th for the same period in the Interfax-100 ranking.