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Report: RosEvroBank shareholders in sale talks

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Report: RosEvroBank shareholders in sale talks

The owners of JSCB RosEvroBank (JSC) are in negotiations to sell the lender, Vedomosti reported Jan. 29.

The representatives of RosEvroBank majority shareholders reportedly met with a potential buyer in November 2016, but the potential investor was not willing to pay the high asking price, the news report said.

RosEvroBank's press office said there are no M&A deals planned in the near future, while the lender's management board chairman and beneficiary co-owner, Ilya Brodskiy, said the lender constantly receives offers to sell itself, Banki.ru reported Jan. 30, citing Vedomosti.

Meanwhile, a source close to Brodskiy, which co-owns the bank via Cyprus-based REG Holding Ltd., said sale negotiations are being carried out with several potential investors, both Russian and foreign. However, a potential deal would not be reached sooner than the second half or would be reached by the end of 2017, the source added.

Anton Usov, senior communications adviser at European Bank for Reconstruction & Development, which also holds a stake in the bank, said the EBRD can only confirm that negotiations are underway and that it participates in them.

REG Holding, controlled by several individuals, owns 73.8% of RosEvroBank, while the EBRD has an 11% stake in the lender. Other shareholders include PJSC Sovcombank (9.5%) and DEG - Deutsche Investitions- und Entwicklungs GmbH (5.7%).