PRESS: Hungary’s OTP may buy Russia’s VEB Ukrainian unit

MOSCOW, Aug 4 (PRIME) -- Hungary’s OTP Group is a candidate to buy Russia’s state-owned Vnesheconombank’s (VEB) unit in Ukraine Prominvestbank, Kommersant business daily reported Thursday citing sources.

OTP Group has already held a due diligence of Prominvestbank and talks with VEB are at “an advanced stage,” the sources said.

VEB CEO Sergei Gorkov said in July that the bank is holding talks to sell Prominvestbank with several potential buyers and expects to sell the bank by mid-2017.

VEB injected 56.2 billion rubles into Prominvestbank’s capital in February and another 4.2 billion rubles in June.

(66.7420 rubles – U.S. $1)

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