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VTB Capital eyes more restructuring deals in emerging markets
May 21, 2013 / 4:56 PM / 5 years ago

VTB Capital eyes more restructuring deals in emerging markets

LONDON, May 21 (Reuters) - VTB Capital is eying more restructuring deals in emerging markets after acquiring debt-laden Bulgarian telecom operator Vivacom in 2012, a senior executive said on Tuesday.

“We are using the Vivacom example and market it very proactively to find new opportunities”, Atanas Bostandjiev, chief executive of UK and international operations at VTB Capital, said at the firm’s Russia Calling Investment Forum in London.

“We are looking at deals that are either too complex or too big to execute for international banks and where we can co-invest, finance and advise,” Bostandjiev told Reuters.

Equity investment and financing are the most profitable businesses at the moment for VTB Capital, part of banking group VTB, Bostandjiev said.

VTB Capital took over Vivacom alongside the company’s main creditor, Bulgaria’s Corporate Commercial Bank, in November after its debt reached 1.65 billion euros ($2.1 billion).

VTB Capital’s parent is close to completing a $3.3 billion share offering, part of the proceeds of which will help VTB Capital grab further investment opportunities in Bulgaria and other eastern and central European countries, including Slovenia, Hungary and Serbia, Bostandjiev said.

VTB Capital is also considering joint investments with local and international players in African countries like Angola, while selective investments in western Europe are also possible, he said.

“Restructuring a German company that needs capital or helping a German company invest in Russia are the kind of things we could do”, he said, adding VTB could also look at opportunities in troubled southern European countries if companies fail to raise sufficient capital. ($1 = 0.7778 euros) (Editing by David Holmes)

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