Top managers of Russian sanctions-hit JSCB Evrofinance-Mosnarbank Bank JSC are interested in acquiring VTB Bank PJSC and AO Gazprombank's stakes in the lender, news agency Prime reported Aug. 27, citing Russian Deputy Finance Minister Alexei Moiseev.
The official said that negotiations with Evrofinance Mosnarbank executives are underway. He added that other lenders have expressed an interest in purchasing the stakes, while also noting that the transfer of the shares to PAO Promsvyazbank, controlled by the Russian state, is still an option.
The final decision will be taken by the government and Russia's Federal Agency for State Property Management, and Moiseev said he would like the shares to be sold to a strategic investor in one package.
The U.S. Treasury imposed sanctions on Evrofinance Mosnarbank in March for allegedly attempting to evade U.S. sanctions on Venezuela, after which state-controlled VTB and Gazprombank, each holding a 25% stake plus 1 share in the lender, decided to transfer the shares to the Federal Agency for State Property Management.
The largest shareholder in Evrofinance-Mosnarbank is Venezuela's National Development Fund, Fondo De Desarrollo Nacional Fonden SA, holding a 49.99% stake, Prime said.
