KIT Finans Investitsionnyi bank OAO: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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KIT Finans Investitsionnyi bank OAO updates on merger with Absolut Bank-Interfax
KIT Finans Investitsionnyi bank OAO:The shareholders in Absolut Bank and KIT Finance approved the merger of the latter into the former in voting at extraordinary meetings on Dec. 30, the banks said in a joint press release-Interfax.Both banks are controlled by the Blagosostoyanie nongovernmental pension fund.Absolut Bank's charter capital will increase 38 pct post-merger, to 2.543 billion Russian rubles from 1.845 billion Russian rubles, through an issue of 69,790,628 shares, each with par value 10 Russian rubles.The supplementary shares will be exchanged for KIT Finance ordinary shares at the conversion ratio 10.03 KIT Finance shares for each Absolut Bank supplementary share.KIT Finance charter capital currently totals 7 billion Russian rubles.The Federal Anti-Monopoly Service (FAS) has already cleared KIT Finance to merge into Absolut Bank.The merger will take place no earlier than the middle of 2014, when KIT Finance will have completed its financial recovery, Blagosostoyanie executive director Yury Novozhilov said.
Latest Developments for KIT Finans Investitsionnyi bank OAO
- FAS Approves Merger of KIT Finans Investitsionnyi bank OAO with Absolyut bank-Interfax
- Fitch Affirms KIT Finans Investitsionnyi bank OAO's Ratings-Interfax
- KIT Finans Investitsionnyi bank OAO Appoints General Director-Interfax
- KIT Finans Investitsionnyi bank OAO Announces Change of General Director, Chairman of the Management Board-AK&M
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