July 5 (SeeNews) - Russian bank VTB plans to sell its Serbian subsidiary VTB Banka a.d. Beograd to an investor from Central Europe for 10 million euro ($11.7 million), Russian media reported.
VTB has found a buyer for VTB Banka and the buyer is from Central Europe, as the amount of the deal is 10 million euro, Russian news agency TASS quoted on Wednesday the president of the lender, Andrey Kostin, as saying.
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Earlier this week, the supervisory board of VTB approved the sale of the entire capital of VTB Banka which is composed of 7,344,813 shares with a nominal value of 500 dinars ($4.9/4.2 euro) apiece.
In the spring of 2017, the first deputy president of VTB, Yuri Soloviev, said two foreign investors expressed interest in the acquisition of VTB Banka.
VTB took control of the Serbian bank in 2013 as a result of the acquisition of the Bank of Moscow. Back then, the name of the Serbian lender was changed to VTB Banka a.d. Beograd from Bank of Moscow (Belgrade).
($ = 0.8548 euro)