Today ALROSA will render the results of the open auction for the sale of its stake in MAK-Bank. The deadline for submission of bids expired on June 27. According to Kommersant newspaper ALROSA has received only one bid from ROST-Bank, controlled by businessman Oleg Karchev. According to reports by ALROSA, the estimated value of its 84.66% share in MAK-Bank is not less than RUB 414 million. This is the price at which ROST-Bank is to acquire the stake of the diamond mining company, Kommersant reported.
ALROSA declined to comment on the issue “prior to official publication of the results of open bidding procedures.”
As of on April 1, 2014, MAK-Bank was ranked 358th in terms of assets (RUB 5.6 billion) and 306th – in terms of capital (RUB 1.08 billion).
A year ago ALROSA decided to dispose the share in MAK-Bank as one of its non-core assets, on the threshold of partial privatization.
But at that time the company could not control the bank as MAK-Bank’s charter endowed each shareholder to get one vote regardless of the size of stake. This stipulation was revised this Spring, when some shareholders opposing ALROSA quitted MAK-Bank’s capital.
Purchase of ALROSA’s share in the bank having branches in Yakutia corresponds to interests of ROST-Bank which has embarked on active buying of regional banks.
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