Russian Paralympians prepare for PyeongChang 2018 despite IPC suspensionSport March 24, 9:23
Senior Pentagon official calls for information strategy on RussiaWorld March 24, 8:42
South Korea warns North Korea may hold new nuclear test by end of MarchWorld March 24, 7:20
Russian-US experiment to simulate outer space mission named SIRIUSScience & Space March 24, 6:20
Russian research agency selects 10 bids in ‘Flying Car’ contestScience & Space March 24, 5:41
Belarus opens case into plotting riots, 26 suspects detainedWorld March 24, 4:30
Russia chooses new official Olympic kit brandSport March 24, 4:28
Police searching for another suspect in Russia’s ex-MP murder in KievWorld March 24, 2:45
Fourth victim of London attack dies in hospital — policeWorld March 24, 2:42
MOSCOW, November 12. /TASS/. Vladimir Kogan has closed a deal on acquiring an 82% stake in Uralsib bank. According to the bank, the deal was closed on November 9.
The share of the former Uralsib major shareholder Nikolay Tsvetkov was reduced from 97.2% to 15.2%.
As TASS reported earlier, Vladimir Kogan, head of the Neftegazindustriya group, signed a deal with Nikolay Tsvetkov, the major shareholder of Uralsib on acquiring 82% stake in the bank. Under the contract, the new owner is obliged to provide the bank with funds, which are sufficient to ensure its smooth operation. The funds will be granted in the form of loans amounting to 14 billion rubles ($219.6 mln) for the period of 6 years and 67 billion rubles ($1.02 bln) for a period of 10 years.
Bank Uralsib occupies the 27th place in the Russian banking system in terms of net assets. At the end of 2014 the bank received a loss under the International Financial Reporting Standards (IFRS) in the amount of 9.5 billion rubles ($145.38 mln), which was 6-fold bigger than the loss in 2013. At the same time in the first half of 2015 losses of Uralsib reached 10.23 billion rubles ($156.5 mln).
The main reasons were establishing reserves for problem loans and increased interest expenses. In the summer of 2015 the shareholders of the bank held its additional capitalization for 17.6 billion rubles ($269.36 mln).