PRESS: Cbank may become new owner of Inteco, A101 Development

MOSCOW, Sep 25 (PRIME) -- Real estate developer Inteco and part of A101 Development may become property of the central bank as assets held by Bank Mikhail Shishkhanov, a co-owner of B&N Bank, which is now being bailed out, Vedomosti business daily reported on Monday.

“I will give away my shares, whose purchase I financed using, among others, funds of B&N Bank,” Shishkhanov told Vedomosti without disclosing the sums of the deals.

A spokesperson for the central bank said that negotiations on the matter are being held, but not finished.

The central bank will provide financial aid to B&N Bank and its affiliate Rost Bank to support their liquidity, setting no moratorium on creditor demand fulfillment. An interim administration was introduced.

End