VTB DOES NOT BUY ASSETS OF ARMENIAN INDUSTRIAL COMPANIES
Panorama.am
21:22 08/12/2007
VTB group does not go to buy assets of any Armenian industrial
company. According to Andrey Kostin, the general manager of VTB,
if the bank gets a part of shareholder of any company it will be the
result of disposed credit. "We intend to give credits to the projects
in resource field, as for gold mining, but the Group is not intended
to buy an industrial property," said he.
He explained that even in the case of giving credits, the company’s
assets are transmitted to the bank temporarily, as after they return
to the head investor.
Note that today the delegation of VTB and its president Andrey Kostin
arrived in Armenia and signed credit contract with Armenian Copper
Program disposing 257 million dollars 12 years repayment period. The
credit got the company will lead to exploit Teghut mining.
From: Emil Lazarian | Ararat NewsPress
