Vladimir Putin, through his decree, allowed Rosbank to buy the investments of the French financial group Societe Generale in the Russian stock market. We are talking about the purchase of minority stakes in 24 public companies.
The corresponding order was published on the legal acts portal. Rosbank received the right to purchase securities of VTB, Rosseti, RusHydro, Inter RAO, Gazprom, Surgutneftegaz and other companies. The transaction amount is not disclosed.
The largest number of shares owned by Societe Generale is in the VTB package: almost 1.8 billion shares. The smallest is 1 ordinary share of MMK. At the same time, Rosbank acquires small shares of companies. For example, 0.01% of VTB or 0.04% of Gazprom.
The president’s decision is related to the decree of August 5, 2022 that limits the sale of Russian assets to foreigners from “hostile” countries.
In spring 2022, Vladimir Potanin’s Interros bought Rosbank from Societe Generale, which, after the outbreak of events in Ukraine, ceased its banking and insurance activities in Russia.
Photo: Vvicca1/Shutterstock
Author:
Akhmed Sadulayev
Source: RB
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