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New Deal


Announced

VTB to acquire Otkritie from Bank of Russia for $4.7bn.

Financials

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Transaction Value£3,875m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Banks

Single Bidder

Acquisition

Private

holding company

Russian Federation

banking

Domestic

Friendly

Majority

Pending

Synopsis

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VTB, a Russian majority state-owned bank, agreed to acquire Otkritie, a banking company, from Bank of Russia, a Russian central bank, for $4.7bn. VTB has fallen under some of the toughest sanctions imposed by the West on Russia's financial sector, is struggling, something that had raised doubts about the long-awaited Otkritie purchase.

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