PRESS: Russian businessman Avdeyev may buy UralSib Corporation

MOSCOW, May 15 (PRIME) -- Roman Avdeyev, owner of Credit Bank of Moscow, is close to gaining control over Nikolai Tsvetkov’s Financial Corporation UralSib, whose main unit, UralSib Bank, is one of Russia’s top 30 banks, business daily Kommersant reported Friday quoting sources.

According to a source, Avdeyev is now holding talks that are now in at a final stage and may be finished in summer after which he may gain over 75% in Financial Corporation UralSib. The deal will become the largest that took place during the latest crisis on the financial market, Kommersant reported.

Experts told the business daily that the price of the deal may not be high, as there is no competition for such large and difficult assets. The acquisition will allow Avdeyev to expand his business to the federal level fast and cheap.

Besides UralSib Bank, the corporation includes a leasing company, a managing company, a brokerage office, a private pension fund and an insurance firm.

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