trending Market Intelligence /marketintelligence/en/news-insights/trending/PGba2fSA8J9FJpQCk0rJ7g2 content esgSubNav
In This List

Report: Rosneft-linked investor buys into Credit Bank of Moscow's pension fund

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Report: Rosneft-linked investor buys into Credit Bank of Moscow's pension fund

Russian investment company Region acquired a 9.9% stake in nonstate pension fund NPF Soglasie OPS, which is part of PAO Credit Bank of Moscow group, Kommersant reported Dec. 19.

The estimated value of the 9.9% stake amounts to around 7.5 billion Russian rubles, the newspaper noted, adding that Rossium, which is the main beneficiary shareholder of Soglasie and Credit Bank of Moscow, owns a 90.1% stake in the fund following the deal.

The transaction provided financial support to Rossium, which at the end of October spent 6.75 billion rubles on participating in Credit Bank of Moscow's 14.4 billion ruble secondary public offering, Kommersant said, citing an unnamed head of a Russian consulting company.

Both Region and Credit Bank of Moscow are close to Russian state-owned oil company Rosneft, and the investment company could further increase its holding in the pension fund in the future, the newspaper said, quoting several analysts.

As of Dec. 18, US$1 was equivalent to 58.63 Russian rubles.