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Provider: Reuters Investment Profile
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Ingosstrakh OSAO Receives Permit from FAS for Full Ownership of Bank Soyuz-WPS


Tuesday, 25 Sep 2012 08:00pm EDT 

WPS reported that Russia‚Äôs Federal Antimonopoly Service (FAS) has cleared Ingosstrakh OSAO to consolidate almost 100% of Bank Soyuz. FAS allowed the Company to acquire 50.00000001% of voting shares of Bank Soyuz, raising its voting stake to 99.99999998%. Ingosstrakh OSAO with its 50% stake in Bank Soyuz is the key bidder for the remainder stake in Bank Soyuz, owned by the Deposit Insurance Agency (DIA) and is being offered for sale. The starting price is set at 2.8 billion rubles, and bids are to be submitted until October 22. 

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29 Aug 2013