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Investor from Kazakhstan acquires Asian-Pacific Bank
The Bank of Russia sells the Asia-Pacific Bank (ATB) to Kazakhstan's Pioneer Capital Invest for 14 billion rubles.
On September 17, the Bank of Russia held a first-price closed auction to sell its 100%-stake in JSC Asian-Pacific Bank.
Three of the four bidders invited by the Bank of Russia took part in the auction: Promsvyazbank PJSC, Sovcombank PJSC, Pioneer Capital Invest LLP (Republic of Kazakhstan). The fourth investor of those invited refused to participate in the auction and did not submit a bid.
“Pioneer Capital Invest LLP, was the auction winner with the best bid of 14,000,000,013.13 rubles. In accordance with the terms of the agreement for the sale of bank shares, the winner will also transfer to the Bank of Russia part of the bank's net profit for the first 9 months of 2021 before November 30, 2021,” the regulator said in a statement.
According to the terms of the auction, the transfer of title to Pioneer Capital Invest LLP is expected no later than November 1, 2021.
Source: the Bank of Russia