December 15, 2009. Eurasian Bank JSC (of Kazakhstan) has signed an SPA with Troika Dialog Investment Company CJSC and Troika Dialog Financial Consultant CJSC, for the acquisition of 100% of the shares in the commercial bank “Bank Troika Dialog OJSC” yesterday, December 14, 2009, in Moscow.
The structure of the transaction also includes EFC, the 100% owner of Eurasian Bank, acting as nominee Purchaser for the Bank in acquiring 1 share of Bank Troika Dialog OJSC.
According to the strategic initiatives of the Bank’s shareholders and management, the acquisition of Bank Troika Dialog OJSC will allow diversification of the loan portfolio as well as wider coverage by various banking services and products in Russia.
“This marks an important transaction for Eurasian Bank”, said Eurasian Bank’s CEO, Mr. Michael Eggleton, “as it expands our regional footprint and platform consistent with our strategy. The acquisition will enable the Bank to benefit from the cross-border trade and investment flows between Russia and Kazakhstan.”
Completion of the transaction is planned for Q1 2010 subject to receipt of all regulatory approvals and authorizations in Kazakhstan and Russia, including the name change to “Eurasian Bank OJSC”. The international law firm Salans is acting legal adviser in the transaction.
Note:
Eurasian Bank was established in 1994. As of July 1, 2009 the Bank was ranked 7th in terms of assets in Kazakhstan.
Press-service
Tеl.: (727) 244 39 12, 244 39 43
IR-service
Tel.: (727) 250 87 10
IR@eubank.kz
www.eubank.kz |
