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GENERALI might invest in a bank in Russia

The Italian group GENERALI is analyzing the possibility to participate in the capital of the state bank VTB from Russia, according to France Presse. The participation implies the acquisition of shares worth USD 300 million, which is approximately 1% of the bank's capital.

This action comes amid VTB starting, as part of its privatization strategy, of a campaign for searching potential investors, in Europe and in the United States, for selling 10% of its shares.

The GENERALI Group is already present in Russia, since 2007, through a joint-venture with the financial Czech group PPF (Prvni privatizacni fond).

Author: Ana PREDA on 09.02.2011

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