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Tin'koff Kreditnye Sistemy Bank ZAO Acquires Insurer Moskva from AlfaStrakhovanie Group-Interfax


Monday, 14 Oct 2013 05:13am EDT 

Interfax reported that Tin'koff Kreditnye Sistemy Bank ZAO (Tinkoff Credit Systems, or TCS Bank), bought 100% of the stock in insurance company Moskva from the group AlfaStrakhovanie for $12.1 million, according to the TCS IPO prospectus, which Interfax has obtained a copy of. On August 7, 2013, TCS Bank acquired a 100% stake in OJSC Moskva Insurance Company. The cost of the acquisition was $12.1 million. After the acquisition the name of the company was changed to Tinkoff Online Insurance LLC, the materials say. The Bank plans for the subsidiary to provide TCS clients with insurance services.