Ivanishvili Sells Rossiyskiy Kredit Bank for $352 Mln

Russian businessman Boris Ivanishvili is selling Rossiyskiy Kredit Bank, which is on the list of Russia’s 200 largest banks, to private investors for $352 million, the businessman’s representative told Prime news agency on Thursday.

The buyers include President and owner of Lanit Group of IT companies Georgy Gens, Industrial and Insurance Company founder Boris Pastukhov, Spasskiye Vorota insurance company founder Boris Khait and former core Globex Bank shareholder Anatoly Motylev.

“The deal is expected to be finalized by September 1, 2012,” the businessman’s representative said.

Rossiyskiy Kredit Bank has a long and positive history, considerable capital and a transparent business structure which makes it attractive for investment, Gens said, adding Russia had few joint stock commercial banks not managed solely by their owners.

Georgian-born Ivanishvili, who holds Russian and French passports, has been involved in trying to set up an opposition party in Georgia, but has been prevented from doing so by not holding Georgian nationality.


Leave a comment