Raiffeisen Bank international AG plans to withdraw part of its assets from Russia through complex transactions. A number of transactions lead to the benefit of a person close to Oleg Deripaska.
About it writes Bloomberg.
Raiffeisen said its Russian unit had agreed to buy almost 28% of the shares of Austrian construction company Strabag SE, which until recently belonged to sanctioned businessman Oleg Deripaska. He then plans to transfer the holding to the parent company in Vienna in the form of dividends in kind.
The deal will help solve a headache for Raiffeisen, which has been looking in vain for almost two years at options for selling or spinning off its Russian subsidiary, which is the bank’s most profitable. The business has accumulated more than 3 billion euros in profits, which it cannot transfer due to Moscow’s restrictions on dividend payments.
If successful, the bank must return half of the 3 billion euros to the parent company.
The bank is trying to find ways to solve its problems with minimal consequences for all parties, but it seems that if all transactions are successful, Deripaska will have the opportunity to liquidate his stake in the bank.
Let us remind you:
National Agency for the Prevention of Corruption ate the Austrian Raiffeisen Bank was removed from the list of companies sponsoring the war until consultations were held.
Raiffeisen Bank International (RBI) Chief Executive Officer Johann Strobl statedthat the separation of large bank operations in the Russian Federation before the end of the year is unlikely, departing from previous forecasts.
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2023-12-24 14:20:14
