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Russia's Gazprombank Buys Armenia's Areximbank

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  • Russia's Gazprombank Buys Armenia's Areximbank

    RUSSIA'S GAZPROMBANK BUYS ARMENIA'S AREXIMBANK

    Forbes
    Jan 25 2008
    NY

    YEREVAN (Thomson Financial) - Russia's Gazprombank has bought 80.09
    pct of one of Armenia's largest retail banks, Areximbank, and is in
    negotiations with Austria's Raiffeisen International to buy the rest,
    Gazprombank vice-president Olga Kazanskaya said toady.

    Details of the deal were not disclosed. The bank will be renamed
    Gazprombank of Armenia by the end of the year, Kazanskaya said at a
    press conference.

    She said Gazprombank, controlled by Russian gas giant Gazprom, would
    be seeking to finance energy projects in Armenia with ArmRosGazprom,
    a joint Russian-Armenian company that controls natural gas pipelines
    feeding Russian gas to Armenia.

    From: Emil Lazarian | Ararat NewsPress
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