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Otkritie unit to buy Russia's Rocketbank

'sPJSC Khanty-Mansiysk BankOtkritie said April 12 that it agreed to acquire 100% of Russianonline and mobile financial services provider Rocketbank from the company'sfounders and venture capital firm Runa Capital.

Thedeal, expected to be closed by the end of April, was preceded by a strategicpartnership agreement concluded several months ago. Financial details of the transactionwere not disclosed.

Rocketbankco-founder Victor Lysenko said the firm received a handful of offers in thepast year and opted for a deal with Otkritie in the hope that its resourceswill ensure a "bright future" for the company and foster its furtherdevelopment.

Rumorsabout Otkritie's plans to purchase Rocketbank in September 2015. Russianmedia outlets also reported at the time that PJSC Orient Express Bank and were also interestedin the lender at some point.

OtrkitieFinancial Corp. Bank and Khanty-Mansiysk Bank Otkritie are controlled byOtkritie Holding JSC.