VTB Hands Rosbank Stake to SocGen for Moscow Exchange Holding
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VTB Group, Russia’s second-largest bank, agreed to swap its 10 percent holding in OAO Rosbank to Societe Generale SA for a stake in the Moscow Exchange as well as corporate loans and real estate assets.
“There’s an asset swap of Micex, in addition to loans to major companies,” VTB Chief Executive Officer Andrey Kostin said today in an interview from Bali, Indonesia. VTB, which already held 5.4 percent of the Moscow bourse, said in May that it was in talks with Societe Generale to sell its minority stake in Rosbank.