Bank of Russia invites investment consultants to take part in drafting exit strategy from banking group PJSC Bank FC Otkritie

The Bank of Russia has invited investment consultants to take part in drafting an exit strategy from the banking group PJSC Bank FC Otkritie (hereinafter, Group BFCO). The process will involve both Russian and foreign financial market participants with sufficient expertise in conducting deals in capital markets.

Various options for selling participation shares are being considered, including private and public offerings. Call options will be collected until 16 March 2020.

The Bank of Russia plans to withdraw from the capital of Group BFCO trying to preserve a sound balance between the maximum repayment of expenses on the financial rehabilitation of Group BFCO and the timing of its own exit from the group. First transactions to reduce the Bank of Russia’s share are tentatively scheduled for 2021.

When planning its exit strategy from Group BFCO, the Bank of Russia will be mainly governed by the inadmissibility of lowering competition in all and any segments of the financial market where Group BFCO operates, and also maximum transparency of the Bank of Russia’s exit from the group for market participants and the community.

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