The State Duma has removed from the bill under consideration an amendment allowing VTB not to make offers to minority shareholders who do not support the RNKB merger.
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VTB will not be able to do without an offer for minority shareholders when merging RNKB
As Interfax writes, referring to the document, the Duma committee approved the amendments on July 3. We are talking about the possibility of VTB violating paragraph 1 of Article 75 of Law No. 208-FZ “On Joint Stock Companies”. This clause gives shareholders who do not agree with the reorganization of the company the right to demand the redemption of securities.
The draft law was finalized last week and this measure was excluded from the document. VTB previously explained its intention to merge RNKB with increased competition in Crimea, which, according to the bank’s management, requires the presence of VTB.
The annexation was planned to be carried out by analogy with Otkritie.
RNCB (Russian National Commercial Bank) is the largest organization on the Crimean peninsula. Now RNKB operates as an independent legal entity with its own license. VTB intends to merge the bank in 2025.
Earlier, VTB started issuing mortgages in Crimea. You can carry out the transaction, in particular, in RNKB branches.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
