VEB to sell Sviaz-Bank and GLOBEXBANK DIA at market value

Moscow. January 27. Vnesheconombank plans to sell Sviaz-Bank and GLOBEXBANK to the Agency for Deposit insurance (DIA) by market value, said in a statement on the web.

“It is expected that the deal will be made at market value determined by an independent appraiser. All proceeds from the deal will focus on early repayment of obligations to Vnesheconombank from the Bank of Russia on the bonded loan”, – stated in the message.

It also States that the remaining obligations will be converted into a perpetual subordinated instrument of the Bank of Russia, included in the calculation of capital of Vnesheconombank.