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News ServiceForexMarket AnalysisProducts and Services
13/02/2018
16:12
VTB can acquire Essar Steel

Numetal Consortium involving VTB Bank is going to acquire Essar Steel (India), Reuters informed.

ArcelorMittal also is going to participate in this auction. It is ready to offer $6bn for the above Company.

Essar Steel is under sale now due to the bankruptcy procedures.

VTB keeps 40% in Numetal; 26% are held by the Ruia family as the actual founders of Essar Group.

VTB Bank (TIN 7702070139) is ranked as the second bank in Russia by the assets volume. The government keeps 60.9%.

The Russian government is a major holder keeping 60.9348% votes or 45.01% of the share capital (with respect to Deposit Insurance Agency - 92.23%).

The Group includes above 20 credit and financial companies operating in different sectors of the capital market. It has representations in European countries, China, India etc.

The 9-month 2017 net profit (IAS) was doubled to reach 75.3bn rub. due to the rise in the net interest and expenses control; net interest moved up 10.7% to 343.7bn rub.; net commissions - 19.9% to 67bn rub.

The net interest gained 39.8bn rub. in July and 266.9bn rub. over the 7-month period (12.4% and 10.1%, respectively); net commissions moved up 8.3% and 16/2% to come to 7.8bn rub. in July and 50.9bn rub. over 7-month period, respectively.

The 10-month 2017 net profit (IAS) rallied up 2.4 fold to 90.9bn rub.

from 38bn rub. prior year period.

"AK&M", 12:46, 13.02.2018 1251 AKM,COR

 

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