Freedom Holding secures CBR permission to sell assets in Russia to mgmt, deal to close in Feb

MOSCOW. Feb 15 (Interfax) - Freedom Holding Corp., a U.S. based company controlled by Kazakh businessman Timur Turlov, has secured Russian regulatory approval for the sale of its broker and bank in Russia.

The Central Bank of Russia granted permission for the deal, which was announced last October, on February 10, Freedom Holding reported in its financial statement. The sale is expected to be completed by the end of the month.

The buyer is Maxim Povalishin, a member for the board of directors and deputy CEO of the group's Russian investment firm Freedom Finance, which is already operating under the new name Tsifra Broker. The deal will include Freedom Finance and Freedom Finance Bank.