PRIME-TASS. Sberbank, which closed on Friday the acquisition of Turkish lender Denizbank, elected a new board of directors at the subsidiary bank, retaining the management team, the largest Russian bank’s press service told Prime-TASS.
“German Gref (Sberbank CEO) has been elected the board chairman," the spokesman said.
Apart from German Gref, other board members are deputy board chairman Sergei Gorkov, management board member Denis Bugrov, head of the risks department Vadim Kulik and head of international operations Nikolai Kuznetsov. Hakan Ates retained the seat of management board chairman at Denizbank, the spokesperson said.
The transaction price for 99.85% of Turkish lender Denizbank totaled €2.79 bln. Until the end of the year Sberbank will additionally pay Dexia an amount equivalent to an increase in Denizbank’s net asset value from January 1 through September 28, 2012, but no more than 433 mln Turkish liras (roughly €188 mln).
