UPDATE: Baring Vostok fund to sell 3.25 mln shares of TCS Group - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: Baring Vostok fund to sell 3.25 mln shares of TCS Group

(Adds details in headline, lede, paragraphs 3Ц4)

MOSCOW, Mar 16 (PRIME) -- One of the funds of Baring Vostok Capital Partners will sell 3.25 million shares of TCS Group Holding, the parent company of Tinkoff Bank and Tinkoff Insurance, a spokesperson for the bank told PRIME on Friday.

Bloomberg reported earlier in the day that an investor has put up for sale up to 3.25 million common shares of TCS Group Holding with a cost estimate of up to U.S. $80 million, and the deal will be organized by Morgan Stanley.

The spokesperson said, УOne of the direct investment funds of our shareholder Baring Vostok Capital Partners, which invested in TCS Group before an initial public offering (IPO), is terminating its activities and selling its entire stake, while partners of Baring Vostok Capital Partners will remain shareholders of Tinkoff.Ф

Senior Partner of Baring Vostok Michael Calvey confirmed the information.

On Thursday, global depositary receipts (GDRs) of TCS Group rose 2.5% to $24.45 per security on the London Stock Exchange. One GDR represents one share.

End

16.03.2018 10:37
 
 
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