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Report: Russia gets 1 bid for Evrofinance-Mosnarbank stake

Only one offer has been submitted so far for the purchase of JSCB Evrofinance-Mosnarbank Bank JSC shares from Russia's Federal Agency for State Property Management, news agency Prime reported Oct. 16, noting that the bid was filed by the lender's top managers.

Russian Deputy Finance Minister Alexei Moiseev said Evrofinance-Mosnarbank executives submitted a letter of interest in purchasing a 50% stake plus two shares of the bank held by the federal agency but the government has yet to make a decision regarding the sale.

The U.S. Treasury imposed sanctions on the bank in March for allegedly attempting to evade U.S. sanctions on Venezuela, after which state-controlled VTB Bank PJSC and AO Gazprombank — both of which held a 25% stake plus 1 share in the lender — decided to transfer their stakes in Evrofinance-Mosnarbank 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, with a 49.99% stake.