INTERFAX. Sweden’s investment fund East Capital Financials Fund is to acquire a 16.43% interest in Kamchatprombank for €2.85 mln, the fund said in a statement. Kirill Yakubovsky, representative of Petropavlovsk Finance that runs the Kamchatka-based bank’s assets, believes that the fund’s participation in Kamchatprombank’s capital will contribute to the latter’s regional expansion and drive up its investment appeal.
Kamchatprombank is part of Petropavlovsk Group, whose beneficial owners are Kirill Yakubovsky, Andrey Vdovin, and also founders of UK gold miner Peter Hambro Mining (Peter Hambro and Pavel Maslovsky). The group also involves Asian-Pacific Bank (Blagoveshchensk), Kolyma-Bank, M2M Private Bank and Expoleasing. Meanwhile, East Capital already holds equity stakes in Asian-Pacific Bank and Kolyma-Bank.
Apart from this East Capital invested funds in a number of other Russian lending institutions, including Loko-Bank, Kedr (Krasnoyarsk), Akibank (Kazan), Severnaya Kazna (Ekaterinburg), FIA-Bank (Togliatti) and Probusinessbank.
In Q108, Kamchatprombank ranked 553rd in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA.
