Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

EBRD to take 30 pct stake in Austria's RBI Ukraine subsidiary

Published 26/11/2015, 04:08 am
© Reuters.  EBRD to take 30 pct stake in Austria's RBI Ukraine subsidiary
RBIV
-

LONDON, Nov 25 (Reuters) - The European Bank for Reconstruction and Development said on Wednesday it would buy a 122 million euro ($129.48 million) 30 percent stake in Raiffeisen Bank Aval, the Ukrainian subsidiary of Austria's Raiffeisen Bank International. RBIV.VI

"By becoming an equity partner, the EBRD is strengthening the capital base of Raiffeisen Bank Aval alongside with RBI, contributing to a much-needed recapitalisation of Ukraine's banking sector as a whole," Nick Tesseyman, EBRD Managing Director Financial Institutions, said in a statement.

The EBRD capital increase is subject to the approval of a general meeting by Bank Aval's existing shareholders on December 3, the development bank added. ($1 = 0.9422 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.