The French bank had been a controlling shareholder of the Russian lender before it divested amid Ukraine-related sanctions last year Russi
The French bank had been a controlling shareholder of the Russian lender before it divested amid Ukraine-related sanctions last year
Russian lender Rosbank has received permission to buy out the local assets that belong to its former controlling shareholder, French banking group Societe Generale, according to a decree signed by President Vladimir Putin published on the official government portal of legal acts on Sunday.
The acquisition will include minority stakes in 24 Russian public companies, including VTB Bank, electric power company Rosseti, hydroelectricity company RusHydro, diamond giant Alrosa, several mining majors including Norilsk Nickel, as well as energy majors Gazprom, Surgutneftegaz, Rosneft, and Tatneft, among others.
