Igor Kim Acquires WestLB’s Russian Branch, Vedomosti Reports

Igor Kim, the owner of Expobank, is buying WestLB Vostok, WestLB’s Russian subsidiary, Vedomosti reported, citing two bankers with knowledge of the agreement. The acquisition, which will be concluded by the end of the year, has been approved by Russia’s antimonopoly service and the central bank, the newspaper said.

To contact the reporter on this story: Anatoly Temkin in St. Petersburg at atemkin@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net