JSC VTB Bank: VTB acquires controlling stak | Company Announcements

Thursday 03 December, 2009

JSC VTB Bank

VTB acquires controlling stak

RNS Number : 5217D

JSC VTB Bank

03 December 2009

Press release

3 December 2009

VTB acquires controlling stake in Sistema-Hals

JSC VTB Bank and AFK Sistema announce today that VTB has exercised a call option to acquire 31.5 % of Sistema-Hals shares from Sistema for a symbolic price of thirty rubles.

The transaction represents the second stage of an agreement signed between VTB and Sistema-Hals in April 2009. During the first stage, VTB purchased 19.5% of Sistema-Hals shares also for thirty rubles and gained the right to exercise this call option. As a result of this second transaction VTB's share in the authorized capital of Sistema-Hals has increased to 51.2%.

Under the terms of their agreement the partners intend to restructure the debt of Sistema-Hals to VTB. The partners have also agreed the terms governing the implementation of a number of joint investment projects.

Contacts:

Investor Relations:

Tel.: +7 (495) 775-71-39

E-mail: investorrelations@vtb.ru

This information is provided by RNS

The company news service from the London Stock Exchange

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