IFC TO ACQUIRE 10% OF INECOBANK SHARES
AZG Armenian Daily
15/06/2006
The International Financial Corporation is willing to acquire 10% of
Armenian Inecobank’s shares. According to Regnum agency, the deal is
estimated at $1.3 million whereas the bank’s total capital amounts to
$12.3 million. The bank has 6 shareholders. The purchase of Inecobank
by the IFC will enlarge the latter’s presence in Armenian banking
sector. Besides acquiring 10% of the bank’s shares, IFC will assign
$4 million to Armeconombank for small and average business development
and hypothecary credit.
Disclaimer: This article was contributed and translated into English by Nanijanian Alex. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2006/06/15/ifc-to-acquire-10-of-inecobank-shares/