OREANDA-NEWS. April 01, 2009. VTB Group announced it has completed the acquisition of a 19.9% stake in the charter capital of OTKRITIE Financial Corporation. VTB Group becomes a minority shareholder of OTKRITIE and does not intend to further increase its share in the company, reported the press-centre of VTB Bank.

This is an important strategic investment for VTB, as it will allow the Group to benefit from OTKRITIE’s effective business platform. Together OTKRITIE and VTB will be able to develop complimentary business focusing on investment activity, M&A and real estate projects.  

Yuri Soloviev, President of VTB Capital, Head of VTB Group Investment Business, said, “In the current market environment, one of VTB Group’s priorities is to help strengthen the national banking system and OTKRITIE Financial Corporation is also playing an active role in this process thanks to its developed operational platform. OTKRITIE is an established business in the banking industry. Under the strategic alliance with the company, VTB Group intends to actively participate in due diligence, M&A and real estate transactions.”