FAS allowed “Discovery” to purchase 76% shares of “Rosgosstrakh Bank”


MOSCOW, June 20. /TASS/. The Federal Antimonopoly service (FAS) of the Russian Federation agreed to the request of holding company “Opening” the acquisition of 76% of shares of “Rosgosstrakh Bank”, told TASS Deputy head of financial markets FAS Lilia Belyaeva.

“JSC “OTKRITIE holding” June 16, gave preliminary consent on his application to the transaction more than 75%, or rather, in the petition it was stated 76% of shares of “RGS Bank”, – she said.

As previously reported by TASS, the request came to the office on April 27.

This is part of an overall merger of the group “Rosgosstrakh” holding company “Opening”, which will be implemented in 2017-2018 and the results of which will be formed Russia’s largest private financial group have previously said the source Agency, close to one of the parties to the transaction.

Informed sources TASS reported that under the actual control of the “discovery” of “Rosgosstrakh Bank” was passed at the end of February 2017

Information about the planned merger of the group “Rosgosstrakh” holding company “Opening” appeared at the end of 2016 by the End of the transaction should be the emergence of Russia’s largest private financial group with assets of more than 4 trillion and a customer base of over 50 million people.

In June the first Deputy Chairman of VTB Yuri Soloviev stated that the transaction in the form in which it was discussed at the end of 2016, is not likely to occur, the volume of investment and the structure of the transaction changing (VTB is a shareholder of “Rosgosstrakh”, and “Open”).

The Bank “Opening” on 30 March increased its stake in the insurance company “Rosgosstrakh” from 4.4% to 19.8% in the framework of repo transactions. Then “Rosgosstrakh” received from the shareholder, “CSG holding” – 30 billion rubles, non-repayable contribution to the assets, the assistance was provided due to the loss of CTP. Analysts of the Agency S&P wrote that 30 billion rubles, the insurer has provided. In addition, about 9% of shares of “Rosgosstrakh” has controlled “Opening” of NPF “LUKOIL-Garant”.

The loss of “Rosgosstrakh” according to IFRS in 2016 rose 6.6% to RUB 33.3 billion.

Source