YEREVAN, September 26. /ARKA/. On Monday, Gagik Sahakyan, Ameriabank CJSC’s director for corporate clients, welcomed Troika Dialog’s acquisition by Sberbank.
“We’ll hail any process of consolidation, since it makes work of its links more effective,” he said.
Sahakyan voiced regret at the fact that not every bank in Armenia understands this.
In May, Russia’s Sberbank signed an agreement to acquire 100% of Troika Dialog investment company’s shares.
The deal will be effected in two stages. At the first stage, which is planned to be completed in October, Sberbank will pay $1 billion to Troika owners, and the second stage will be based on the profits gained by Troika over the period between 2011 and 2013.
However, Ruben Vardanian, Troika Dialog chief executive, told Prime news agency that contrary to the arrangement, owners of Troika Dialog wouldn’t receive this $1 billion in October – this money will be transferred upon finalization of the deal by the end of this year or the beginning of the next year.
Earlier, Sberbank head, German Gref, said the closing of the transaction was delayed until the end of this or the beginning of next year due to the protracted approval process by the regulators of those countries in which Troika operates. According to Vardanian, the deal was already approved by the Bank of Russia, as well as by regulators of Ukraine and Cyprus.
The Ameriabank CJSC is an investment corporate bank providing investment, corporate and limited retail banking services in a package.
Ruben Vardanyan is the chairman of the bank’s directorial board and Artak Hanesyan is the director general.
Troika Dialogue, one of Russia’s leading investment companies, is a strategic partner to Ameriabank. -0-
