Interros makes offer of 115 rubles/share to Rosbank minority shareholders, valuing bank at 178 bln rubles

MOSCOW. June 20 (Interfax) - Interros has announced an offer to Rosbank sharesholders in accordance with which the lender as a whole is being valued at nearly 180 billion rubles.

Until May of this year, Rosbank belonged to France's Societe Generale, but after the group decided to leave Russia, the bank changed ownership to Vladimir Potatnin's Interros, which originally founded the bank in 1998.

Interros will consolidate Rosbank and announce a mandatory offer for a small number of remaining minority shareholders in the bank [they own 0.03% of shares], Potanin said in an interview with Interfax.

On Monday, Interros Capital published the terms of its share buyback offer: the company plans to buy back 483,000 shares at a price of 115 rubles per share. Thus, 55 million rubles may be allocated for the acquisition of shares. The deadline for acceptance of the mandatory offer will be 80 days from the date of its receipt.

The authorized capital of Rosbank is 15.5 billion rubles and is divided into 1 billion 551 million 401 thousand common shares of 10 rubles par value. Based on the redemption price within the framework of the offer, the whole bank is valued at approximately 178 billion rubles.

Rosbank was created by Interros in 1998 and it absorbed assets and liabilities of Onexim Bank and MFK Bank after restructuring obligations to creditors that arose due to the crisis. "Interros remained the controlling shareholder of Rosbank until 2008, when Societe Generale took over controlling interest in the bank. Later, Delta-Credit and Rusfinance banks became part of Rosbank, on the basis of which Rosbank started to develop mortgage and car lending (they were later merged into Rosbank).

Rosbank's charter capital is 15.5 billion rubles and is divided into 1,551,401,000 common shares, each 10 rubles in par value. Based on the redemption price within the framework of the offer, the whole bank is being valued at approximately 178 billion rubles.

Rosbank was created by Interros in 1998 and it absorbed the assets and liabilities of Onexim Bank and MFK Bank after restructuring obligations to creditors that arose due to the crisis. Interros remained the controlling shareholder of Rosbank until 2008, when Societe Generale took over controlling interest in the bank. Later, Delta-Credit and Rusfinance banks became part of Rosbank, on the basis of which Rosbank started to develop mortgage and car lending (they were later merged into Rosbank).

Rosbank's assets to IFRS in 9M 2021 totaled 1.4 trillion rubles (the bank did not disclose statements for the year), with capital of 200.7 billion rubles. Net profit for January-September last year amounted to 15.5 billion rubles.