Rosbank, the Russian unit of French bank Societe Generale, has completed acquisition of DeltaCredit and Rusfinance banks in line with Societe Generale's program to consolidate its assets in Russia, Rosbank said on Tuesday.
SocGen and Interros holding company agreed earlier to consolidate their Russian assets, and planned that two universal banks, Rosbank and BSGV, would merge into a single structure preserving two independent brand names. SocGen's other two subsidiaries, DeltaCredit and Rusfinance Bank, will become wholly-owned subsidiaries of the newly-established structure, Rosbank said in a statement.
In October 2010, the country's antimonopoly watchdog gave the green light to the merger of Rosbank and the other Russian subsidiaries of Societe Generale.
Russia's central bank registered a report on December 15 on the additional issue of Rosbank shares in line with its merger with DeltaCredit and Rusfinance Bank. After the additional share issue, SocGen's stake in Rosbank totaled 71.99%, VTB Capital's stake totaled 11.13%, VTB's stake reached 0.78%, while the stakes of Pharanco Holdings ltd, part of Interros, and ICFI (Cyprus) Limited amounted to 6.6% and 7.43% respectively.
MOSCOW, January 18 (RIA Novosti)
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