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VTB intending to acquire a majority stake in one of Georgian bankmaj

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  • VTB intending to acquire a majority stake in one of Georgian bankmaj

    VTB intending to acquire a majority stake in one of Georgian bank majors.

    Analytical Information Agency, Russia
    May 28 2004

    Vneshtorgbank (or VTB) is intending to acquire a majority stake in one
    of Georgian bank majors. VTB said the principal agreement on the issue
    has been announced over the formal meeting of Georgian's President
    Mikhail Saakashvili with the delegation of Russian manufacturers
    headed by the RF Economic Development Minister German Gref.

    As informed earlier, VTB completed the deal in March to get 70%
    stake in Armsberbank, second largest bank of Armenia.
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