Russian Government issued a Decree №839 “On acquiring of privileged shares of credit organization with funds of Fund of national welfare”.
In the Decree Russian Government regulates the buying of privileged shares by the closed subscription of such financial organizations as Bank VTB and OAO “Rosselhozbank” for the amount around 239 billions of rubles.
The funds of FNB, which were returned after performance by this financial organizations and also by OAO “Bank of Moscow” and VTB24(ZAO) of their obligations before Vneshekonombank with regards to subordinated loans, will be used in order to acquire the shares.
Source:: http://government.ru/media/files/41d4fe1658bad72c008c.pdf
As we remember, in the light of recent events VTB and Rosselhozbank ended up in the list of banks, to which the sanctions form EU and USA are applicable. (http://hbcomp.ru/about/news_and_mailings/news_jurisdictions/?ELEMENT_ID=4130). Both banks are not the last ones on the Russian financial market. The exit to the European financial market is limited for now. Therefore, in order to increase the capital of this financial organizations the additional emission of privileged shares will took place. This shares will be bought by the state. It is possible that the same will be done to the other banks on the list.
Anna Shevchenko ( Lawyer, Honest & Bright)
Quickly and confidentially.
A qualified expert will give you a free consultation by telephone, help to determine the position and make an appointment at any time that suits you.
Call just now by phone: +44 203 608 22 48
E-mail us: london@hbcomp.co.uk
04/25/2024 15:20:00
Finland is tightening up the acquisition of citizenship
The Government of the country has approved a number of amendments t ...
04/23/2024 15:21:00
The 15 most expensive cities in the world to build
Economists at the Arcadis consulting company compared construction ...
04/18/2024 15:07:00
Portugal - new plan until 2028
Portugal has approved a Government action plan for the period up to ...