17th Oct 2007 09:44
JSC VTB Bank17 October 2007 17 October 2007 VTB's Supervisory Council holds its meeting On 16 October 2007, VTB's Supervisory Council approved the proposal submitted byVTB's Management Board to further integrate the business of OJSC VTB BankNorth-West into the VTB Group. In particular, the integration plan provides formaintaining the offer to buy out minority stakes in OJSC VTB Bank North-West forRUR 41.72 per share and/or swap them for VTB's shares at the conversion ratio of1 to 361 as previously approved. A formal offer is planned to be sent to minority shareholders of OJSC VTB BankNorth-West. The timeline for the offer will be announced in due course. Also, the Supervisory Council has decided to open a VTB Bank RepresentativeOffice in the Republic of Kyrgyzstan. -ends- Enquiries: VTB Tel: +7 (495) 739 77 99Nataly Loginova e-mail: [email protected] ErshovaIrina Mokeeva NOTES TO EDITORS About VTB VTB is a leading Russian universal banking group offering a wide range ofbanking services and products across Russia, certain CIS countries and selectedcountries in Western Europe, Asia and Africa. VTB is focused on providingbanking products and services to Russian and CIS clients through its domesticand foreign operations and to foreign clients doing business primarily relatedto, or in, Russia and the CIS through its foreign banking subsidiaries andrepresentative offices. END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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