Bank of Moscow Stakes Sold to Vitaly Yusufov, Vedomosti Says
This article is for subscribers only.
Bank of Moscow’s President Andrei Borodin and shareholder Lev Alaluyev sold their stakes in the lender, totaling 20.3 percent, to Vitaly Yusufov, who owns Nordic Yards and is the son of Russia’s former energy minister, Vedomosti reported, citing an unidentified bank shareholder.
Yusufov borrowed $1.1 billion from Bank of Moscow, secured on Nordic Yards, to help buy the stake, according to the report. Vedomosti cited Borodin as saying he’s dissatisfied with the price he got, which was "significantly less than $1.5 billion."