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Subsidiary Bank Sberbank of Russia mulling purchase of Raiffeisen Bank Aval (Ukraine)
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7 June 2010
Subsidiary Bank Sberbank of Russia (Kyiv, Sberbank Group) is performing due diligence of Raiffeisen Bank Aval (Kyiv) within the possibility of purchasing the bank from Raiffeisen Group.
The deal could be worth more than $2 billion, or UAH 16 billion (UAH 0.55 per share).
Currently the market capitalization of Raiffeisen Bank Aval is $1.1 billion (UAH 8.9 billion or UAH 0.36 per share).
Subsidiary Bank Sberbank of Russia (formerly Bank NRB) was established in 2001.
According to the National Bank of Ukraine, as of April 1, 2010, in terms of overall assets, estimated at UAH 8.259 billion, the bank ranked 24th among the 175 banks operating in Ukraine.
Raiffeisen Bank Aval (formerly known as Aval) was founded in 1992. Raiffeisen International Bank-Holding AG owns 95.93% of its shares.
According to the National Bank of Ukraine, as of April 1, 2010 in terms of overall assets, estimated at UAH 54.028 billion, the bank ranked fourth among the 175 banks operating in Ukraine.
Source:
Interfax-Ukraine
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