Russia’s Promsvyazbank buys 46.2% in cable plant Rosskat

MOSCOW, Apr 4 (PRIME) – Promsvyazbank, which is now bailed out by the central bank, has acquired a 46.2% stake in cable and wire plant Rosskat, as seen by PRIME in the materials of the bank on Wednesday.

Other details of the deal were not disclosed.

In January 2018, the Finance Ministry said that the government would create a bank based on Promsvyazbank to handle defense order contracts in conditions of Western sanctions.

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