PRIME-TASS. The State Agency for Financial Supervision of Kazakhstan has authorized Eurasian Bank to acquire Russia’s Troika Dialog Bank, Prime-TASS reported.
As wired earlier, on December 14, 2009 Kazakh Eurasian Bank announced the acquisition of a 100% interest in Troika Dialog Bank. The deal’s structure stipulates that Eurasian Bank’s sole shareholder — Eurasian Financial Company — will act as the nominal buyer and will acquire for the lender 1 stock of Troika Dialog Bank (100% of the charter capital).
The deal was scheduled for completion in January-March 2010 upon receipt of all required permissions and approvals from Kazakh and Russian regulatory authorities, including the bank’s renaming in Eurasian Bank. As Eurasian Bank pointed out, the acquisition of Troika Dialog Bank “will help it diversify the lender’s credit portfolio and also broaden the coverage of the Russian market by offering diverse banking products and services”.
