Bank Kedr has been majority owned by four shareholders – the two Russian bankers who led the management team, European Bank for Reconstruction and Development and East Capital Financials Fund. The shareholders have been actively promoting the sale of the bank to a strategic investor during the past 12 months and are all selling their stakes in this transaction. The new owner intends to merge Bank Kedr into its existing bank holdings in Russia, in keeping with the accelerating consolidation trend in the Russian banking sector.
“We are very pleased to close this transaction. It provides all shareholders a satisfactory exit and good returns. We are equally happy to see that the strong regional franchise of Bank Kedr will get a new boost from the wider footprint that the merger with the Moscow-based banks will offer,” said Kestutis Sasnauskas, CEO of East Capital Private Equity.
Contact information
East Capital Private Equity
Kestutis Sasnauskas, CEO
Moscow +7 495 380 1510
Stockholm +46 8 505 88 520
private.equity@eastcapital.com
About East Capital
East Capital is the leading independent asset manager specializing in the emerging markets of Eastern Europe and China. The company, founded in 1997, bases its investment strategy on thorough knowledge of the markets, fundamental analysis and frequent company visits by its investment teams. East Capital actively manages EUR 3.4 billion in public equity, private equity and real estate. It is headquartered in Stockholm, with offices in Hong Kong, Kyiv, Moscow, Oslo, Paris, Shanghai and Tallinn. www.eastcapital.com
The East Capital Financials Fund is a EUR 500 million private equity fund, which makes equity investments in companies within the financial sector in Eastern Europe.
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