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Otkritie Financial gets $800 mln loan from VTB
November 29, 2012 / 2:01 PM / 5 years ago

Otkritie Financial gets $800 mln loan from VTB

LONDON, Nov 29 (Reuters) - Russian group Otkritie Financial, has got an $800 million loan from VTB to help fund a deal to take over Nomos, Yuri Mikhailov, a financial director of one of Otkritie’s units, said on Thursday.

The Nomos deal will create the country’s second-largest private lender after Alfa Bank. VTB, Russia’s second-biggest lender, owns a 16 percent stake in Otkritie Financial which itself which owns nearly 20 percent of Nomos.

Otkritie Financial said in August it had reached agreements with the owners of 58.5 percent of Nomos to buy their shares. It did not say the price it would pay.

Otkritie said at time it had offered minority shareholders - who hold around a quarter of the stock - at least $14 per global depositary receipt, putting a value of about $2 billion on all the outstanding shares, according to Reuters calculations. (Reporting by Oksana Kobzeva; Writing by Katya Golubkova; Editing by Dan Lalor)

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