The American Citigroup has started negotiations on the sale of the Russian business. According to sources in the Financial Times, Expobank and Reso-Garantiya are potential buyers of banking assets.

American Citigroup began negotiations on the sale of Russian businesses – FT

Negotiations are under way with several private Russian companies, writes the Financial Times. The newspaper's source named insurance company Expobank and Reso-Garantiya among them. The first is owned by businessman Igor Kim, the second by the Sarkisov brothers.

The newspaper's source did not give further details about the negotiations. The newspapers specified that Citigroup could retain a partial presence in Russia and a banking license.

Rosbank is known to have previously shown an interest in Citigroup's assets in Russia, but the deal was called into question after Vladimir Potanin, who is Rosbank's beneficiary, was placed on the UK sanctions list.


Kirill Bilyk

Source: RB

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