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Russia-based Bank Acceptance gets new shareholder

New Ridge (Cyprus) Ltd. sold its stake in JSC Bank Acceptance to OOO Madox, the lender said Dec. 9.

Both companies are controlled by businessman Pavel Ezubov, who also controls the bank. The structure of beneficiary owners remains unchanged following the transaction, the lender noted.

According to Russian central bank data, New Ridge controlled 73.8% of the bank as of February.