Gazprombank OAO Sets Up Private Equity Joint Venture with Intesa Sanpaolo SpA-SeeNews

Sunday, 22 Jul 2012 08:00pm EDT 

SeeNews reported that Italian banking group Intesa Sanpaolo SpA ( Intesa Sanpaolo) on July 23, 2012 signed an agreement with Gazprombank OAO (Gazprombank) to establish a joint venture (JV) for private equity investments into Italian and Russian companies. This 50-50 JV will jointly invest up to EUR 300 million (USD 363 million) into medium-sized companies. The JV will target both Italian companies willing to expand in Russia, and Russian companies seeking growth in Italy and Europe. The agreement was signed in Moscow in the presence of Russian Prime Minister Mr. Dmitry Medvedev and Italian Prime Minister Mr. Mario Monti, by Intesa Sanpaolo's CEO Mr. Enrico Cucchiani and by Gazprombank's Deputy Chairman Mr. Victor A. Komanov. Mr. Antonio Fallico, Chairman of the Russian subsidiary of Intesa Sanpaolo, Zao Banca Intesa, was appointed Chairman of the JV's Supervisory Board. 

Company Quote

0.018 +0.87%
7:44am EDT