OREANDA-NEWS. September 04, 2009. VTB Bank and the shareholders of DON-Stroy group signed a memorandum of agreement, which provides the Bank with the right to acquire 50% plus one share of ZAO DON-Stroy Invest, after receiving preliminary consent from the Federal Antimonopoly Service of Russia, reported the press-centre of VTB Bank.

Upon completion of the transaction, ZAO DON-Stroy Invest will be the holding company of the group companies carrying out residential development projects. As the main creditor and financial partner, VTB will restructure the current debts of DON-Stroy to the Bank, and may also provide additional project financing.

The transaction is expected to be completed by January 15, 2010.