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Société Générale Group signs framework agreement with VTB to buy 10% in Rosbank

October 07, 2013, 11:11 UTC+3
Thus, the France-based financial group increases its stake in Russia's Rosbank to 92.4%
1 pages in this article
Photo EPA/IAN LANGSDON

Photo EPA/IAN LANGSDON

MOSCOW, October 7. (ITAR-TASS). Société Générale Group has signed a framework agreement with VTB Group to acquire 10% stake in Rosbank. This was stated in a message from Rosbank. The deal allows Société Générale to increase its stake in Rosbank to 92.4%. The transaction will be completed in Q4 2013.

According to the agreement, VTB will receive from Société Générale some of its Russian assets including shares of companies traded on the Moscow Stock Exchange, certain loans and real estate assets.

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