PRIME-TASS. VTB Group plans to send in early March a voluntary offer to individual shareholders of the Bank of Moscow, the shares would be bought at the price of a transaction executed with City Hall, the Moscow government (Rub 1,108.65 per share), and the buyout cap would be up to Rub 150 mln, VTB Bank management board member Ekaterina Petelina told journalists on Tuesday, Prime-TASS reported.
The Bank of Moscow’s 1,060 shareholders who own in the aggregate up to 0.05% of the lender’s shares will be able to sell their shares. Shareholders affiliated with former Bank of Moscow executives will not participate in the buyout offer.
VTB Group is prepared to buy out the securities from those shareholders who owned the lender’s shares as of the date when VTB Bank acquired a 46% interest in the Bank of Moscow from the Moscow government.
