Date: 5 months ago   Category: Finance

The supervisory board of VTB has approved sale of insurance business to Sogaz — Rambler News Service


Photo: Anton Gyngazov/Russian Look the Supervisory board of VTB has approved sale of insurance business — the VTB Insurance company — to Sogaz, follows from materials of credit institution. "On a question "About the termination of participation of VTB Bank (public joint stock company) in LLC SK VTB Insurance and acquisition of stocks of JSC Kordeks: To stop participation of VTB Bank (public joint stock company) in LLC SK VTB Insurance by sale of JSC Sogaz of the share making 100% of authorized capital of LLC SK VTB Insurance with a par value of 5,5 billion rubles..." — it is said in materials of bank. On October 23 the Federal Antimonopoly Service (FAS) has reported that it has coordinated merging of VTB Insurance and Sogaz. Earlier in October the first deputy president – the chairman of the board of VTB Yury Solovyov has told journalists that the bank expects that the transaction on integration of insurance business of group, the VTB Insurance companies, with Sogaz will be closed within a month provided that all regulatory bodies will approve her. Earlier it was reported that the VTB Group will receive 10% in insurance company, joint with Sogaz. It was noted that association will happen on the basis of Sogaz. VTB declared sale of VTB Insurance in May of this year.

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