VTB intends to buy Russian Post’s 50% stake in Post Bank. The entire credit organization as part of the transaction was valued at 72 billion rubles. Interfax reports this.
Author:
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According to the report of an independent appraiser referred to by VTB, the price of one ordinary share of Pochta Bank is 4,184 rubles. The bank’s authorized capital amounts to more than 17.2 million shares, confirming the bank’s total valuation of 72 billion rubles. Russian Post’s stake (50% minus 1 stake) is worth 36 billion rubles.
“We consider the independent appraiser’s evaluation of capital fair and comfortable, based on this amount we intend to carry out the transaction. We do not plan any additional payment or discount,” said Dmitry Pyanov, first vice-president of the board of directors of VTB.
It should be noted that as of September 1, Post Bank’s own funds amounted to 71.9 billion rubles. The bank’s valuation of the transaction corresponds to a capital multiplier.
At the end of September, VTB announced that it plans to accelerate the merger process of Pochta Bank. The agreement to purchase the share of Russian Post will be carried out in 2024, the integration is scheduled to be completed in 2025 and all procedures in January 2026. The government approved the agreement in July 2024.
Author:
Nikolai Tikhonov
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.
