“Rossium” of Roman Avdeev aquires investment company Otkritie Capital International Limited

Otkritie Capital
Otkritie Capital

Concern “Rossium” of Roman Avdeev aquires the investment company Otkritie Capital International Limited (UK), of “Otkritie holding”.

Funds to purchase Otkritie Capital “Rossium” will receive from the capital increase to 26 billion rubles. The transaction amount may exceed 10 billion rubles.

On June 30, Otkritie Capital shares were pledged as followed from the company report. Mr. Avdeev said that the company is not pledged for loans.

“Rossium” investment buys “Otkritie Bank”  daughter company in order to “implement the strategy to strengthen the investment business,” according to their press release. Otkritie Capital was established in 2007 and “is one of the leading Russian investment companies” with offices in London and Moscow.

“The amount of transactions we do not disclose. I see the future in this business, we have been looking for such an asset and were negotiating with other players that have foreign investment company”, – said Mr. Avdeev.

Investment business of “Rossium” will be headed by Nikolay Katerinov, who until 2016 oversaw the investment block of “Otkritie Bank”, says press release. Controlled by Mr. Katerinov “Lunarei Investments” will become one of the participants in “Rossium” at the expense of inclusion in its capital of RUB 10 billion of the reported 26 billion. Mr. Katerinov will pay his contribution in cash and will receive a share of 9.9%, he will also join the Rossium Board of Directors.

The acquisition of Otkritie Capital will be closed after regulatory and other approvals.

On August 29th Russian Central Bank announced the reorganization of “FC Otkritie” of “Otrkitie holding”, the investor was the Central Bank itself. In addition to the Otkritie Bank in the perimeter of reorganization are “Rosgosstrakh” insurance, Bank “Trust”, “Rosgosstrakh Bank”, NPF “LUKOIL-Garant”, “NPF Elektroenergetiki”, NPF RGS, “Otkritie broker”, “Tochka” and Rocketbank, as well as approximately two dozen of other legal entities. It is unkown if this list included “Otkritie Capital”. The main beneficiary of the “Otkritie holding” is Vadim Belyaev.

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