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VTB completes acquisition of controlling stakes in 2 regional banks

VTB Bank PJSC has completed its acquisition of PJSC West Siberian Commercial Bank, also known as Zapsibcombank, and PJSC Sarovbusinessbank.

VTB acquired 86,650,277 shares in Zapsibcombank, equivalent to 71.80% of voting rights, and 1,020,332,387 shares in Sarovbusinessbank, or 81.11% of voting rights.

Both deals were announced in late 2018.