VTB acquires a 5% stake in TNS energy
RCB Bank Ltd, a subsidiary of the VTB Group, has purchased a 5% share in TNS energy, in the amount of USD 30 million. The transaction took place as part of the framework of integrated cooperation between companies.
Dmitry Arzhanov, the General Director of the TNS energo Group of Companies, said: “The VTB Group is one of the largest international financial corporations and this partnership opens up new development prospects for us. Of course, the closure of this deal, itself, is an endorsement, indicating the high level of trust that our new strategic partner has in us.”
Yury Soloviev, the First Deputy President — Chairman of the Management Board of the JSC VTB Bank, added: “The start of our cooperation with one of the largest energy retail holdings in Russia is certainly a positive factor, both in terms of mutually beneficial cooperation with a market leader in power sales in the country, and in strengthening the presence of the VTB Group in the power sector as a whole.”
Note to editors:
The TNS energo Group of Companies is one of the largest energy retail holdings, and is a member of the energy wholesale market. It manages guaranteeing suppliers across 11 regions of Russia, servicing more than 16 million consumers. TNS energy includes the Voronezh Energy Retail Company, the Karelia Energy Retail Company, the Kuban Energy Retail Company (services consumers in the Krasnodar region and the Republic of Adygeya), the Mari El Energy Retail Company, the Nizhny Novgorod Energy Retail Company, Energosbyt Rostovenergo, the Yaroslavl Energy Retail Company, the Tula Energy Retail Company, Garantenegoservis LLC (Novgorod region) and Energotrading LLC (Penza region).
RCB Bank Ltd. is the largest international bank and one of the leaders in the banking sector of Cyprus. Founded in 1995, RCB Bank Ltd. implements the business model of a universal bank and services thousands of international and local clients. The bank is a member of the VTB Group and it has branches in Cyprus — Lemesos and Nicosia, and representative offices in Moscow and London.
The VTB Group is a leading international financial group which includes more than 30 financial companies in over 20 different countries. In the Russian banking market the Group ranks second in terms of main indicators. The State share in VTB’s capital is 60.9%.