March 7, 2019 / 12:14 PM / 3 months ago

Russia's CBM to take part in Asian-Pacific Bank tender

MOSCOW, March 7 (Reuters) - Russia’s Credit Bank of Moscow (CBM) has decided to bid for Asian-Pacific Bank (APB) at a tender on March 14, the lender said on Thursday.

CBM said in a statement that 99.9 percent of APB will be up for sale at the tender.

Russia’s Federal Anti-Monopoly Service (FAS) said last month it received an application from CBM for preliminary approval to buy the 99.9 percent stake in APB. (Reporting by Tatiana Voronova; writing by Tom Balmforth; editing by Polina Ivanova)

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