VTB Bank OAO Acquires 21.8% Stake In TransKreditBank OAO From Rossiyskiye zheleznye dorogi OAO-PRIME
PRIME reported that VTB Bank OAO (VTB) has consolidated a 99.6% stake of TransKreditBank OAO's (TransCreditBank) shares by acquiring a 21.8% stake from Rossiyskiye zheleznye dorogi OAO (Russian Railways). The value of the stake was not disclosed. According to earlier official information, the shares would be acquired for approximately RUB 20 billion. The TransCreditBank brand is to be eliminated in November 2013. The corporate segment will be integrated with VTB by July 1, 2013, and the retail segment will belong to VTB 24 branch.
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