5th Jun 2018 09:35
JSC VTB Bank (VTBR) VTB acquires 40% of Technoserv IT Group 05-Jun-2018 / 10:34 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Press release 5 June 2018 VTB acquires 40% of Technoserv IT Group VTB Group closed acquisition of 40% stake in Technoserv Group, Russia's largest system integrator. The acquisition had been duly approved by the Federal Antimonopoly Service of the Russian Federation. VTB will have the opportunity to appoint its representatives on the company's Board of Directors and thus participate in the management.Technoserv is one of the leaders in the system integration market and possesses vast client portfolio, including major companies from across various industries of the economy.For VTB acquisition of Technoserv is a strategically important transaction that will significantly enhance bank's technological expertise. As such, this will considerably increase VTB Group's capabilities to create new competitive products and services for its customers, further enhance the quality of innovative IT developments for the digital transformation of VTB and will ultimately positively impact the Group's financial performance.
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| ISIN: | US46630Q2021 |
| Category Code: | MSCM |
| TIDM: | VTBR |
| LEI Code: | 253400V1H6ART1UQ0N98 |
| Sequence No.: | 5618 |
| EQS News ID: | 692347 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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