Prime-Tass English-language Business Newswire
September 12, 2008 Friday 12:09 PM EET
Gazprombank ups stake in Armenia’s Areximbank to 100%
MOSCOW Sep 12
Russia’s Gazprombank has brought its stake in Armenia’s Areximbank to
100% from 94.15% previously, Gazprombank’s press office said Friday.
Gazprombank purchased the 5.85% stake from Raiffeisenbank for an
undisclosed sum.
Gazprombank bought 80% in Areximbank in November 2007 and then
increased its stake to 94.15% in July through the purchase of the
bank’s additional share issue.
Areximbank provides a full range of banking services. As of July 1,
the bank’s assets were at U.S. $110.5 million, while shareholders’
equity was at $31.8 million.
Gazprombank is the banking arm of Russia’s natural gas monopoly
Gazprom.
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Direct link to this article: https://www.armenianclub.com/2008/09/14/gazprombank-ups-stake-in-armenias-areximbank-to-100/