Renova bought NPF “Saint-Petersburg”

NPF “St.-Petersburg” it is bought by group “Renova” which, in particular, includes interregional non-government pension Fund “Bolshoy” and NPF “Vladimir”, told “Kommersant” several market participants. The Chairman of the Board of Directors of NPF “Big” Alexey Goncharov has informed, what exactly this Fund and delivered by the buyer.

As noted by Goncharov, NPF “Large” “specializiruetsya at work with large corporations on non-state pension programs”, and NPF “St. Petersburg” is monopodal large employer group “Ilim”. “The deal M&A with such players is one of the priorities of development of the pension business of the group,” he said.

The largest shareholder, the Fund “Saint-Petersburg” — the former top Manager of the Ilim group, the main owner of the Bank “Orange” Stanislav Patenko. On Friday on the request to “Kommersant” in the Fund have not responded. He Patenko was unavailable for comment.

According to the newspaper, NPF “St.-Petersburg” there were other contenders. Relevant negotiations, for example, led NPF “Blagosostoyanie”. In may, the deal fell through on the initiative of the seller, said the sources.

NPF “Saint Petersburg” is not included in the guarantee system. The volume of pension reserves in the first nine months of the current year 1,2 billion roubles, the Total assets of RUB 1.4 billion

According to the Director of group of ratings of financial institutions of an ACRE Yuri Nogina, pretending to join in the guarantee system, the Fund “Saint-Petersburg” fundamentally changed the balance, increase the share of liquid and transparent financial instruments. Overall, he said, the Fund shows good results of placed reserves, but given the actuarial deficit, as reflected in the financial statements, and the modest size of the Fund the cost of the transaction “is unlikely to exceed 15% of assets”.

This landmark, writes “Kommersant”, is considered the maximum for such transaction, other experts, noting that neither the seller nor the buyer is not forced. “Renova” is not aggressive active M&A. most Likely, the buying Fund at a conservative estimate, taking into account the stagnation of the private pension sector,” says managing Director of corporate ratings of “Expert RA” Pavel Mitrofanov.

Goncharov did not name the price of the transaction, ready for about six months. According to him, some comments of actuaries to their own NPF funds have been eliminated. Portfolio investments do not cause problems, in General, the Fund is in surplus, he said.

The Chairman of the Board of Directors of NPF “Big” does not exclude new M&A, especially with the NPF, actively implementing corporate programmes.