Sanctioned Russian businessmen Mikhail Fridman and Petr Aven are in discussions over selling their stake in private Russian lender Alfa Bank to longtime business partner and Alfa Bank co-founder Andrei Kosogov, the bank said on Friday.
The Financial Times, citing unnamed sources, reported on Thursday that Fridman and Aven were preparing to offload their indirect shareholding in a 178-billion-rouble ($2.35 billion) sale of the bank from its Cyprus-based parent company.
“As far as we know, such a deal is indeed being worked out,” Alfa Bank said. “It is too early to talk about its completion – the parties need to pass through a number of corporate and legal procedures.”
Alfa Bank has been placed under Western sanctions, imposed in response to Russia’s invasion of Ukraine last year. Fridman and Aven are seeking to have the personal sanctions on them removed.
“Neither Andrei Kosogov nor the seller are under sanctions, so it is likely that the approval of the deal by foreign regulators will not be needed,” Alfa Bank said.
“The main outcome of the deal, if it goes through, will be that Russian citizen, and one of Alfa Group’s co-founders, Andrei Kosogov becomes the main owner of the bank.”
Source: Reuters.com