The Chinese bank can acquire ATB at the secondary trading, Kommersant informed.
Longjang Bank Corp. received an offer from Solidarnost Bank which financial restructuring has been oriented to China. The Russian Bank doesn't have sufficient funds for the purchase, therefore it offered the Chinese Bank to enter into ATB's capital at the 75/25 ratio.
Earlier, Longjang Bank worked in cooperation with ATB on the clients' servicing. It is interested in the strengthening of its position on the market and appealed to the regulator. But due to rather prolonged proceedings required for the approval the Chinese bank failed to participate in the auction and refused from the transaction.
MKB and Sovkombank (main contenders on the ATB acquisition) also can refuse from the auction due to the failure to carry on the proper due diligence and to settle a contract with the Central Bank as with a responsible seller.
By now the situation has remained unchanged though the auction is set for Mar. 14. Should there be only one investor it can be recognized as failed. Then, Longjang Bank can submit the second application to the Chinese regulator and to coordinate transaction due to expedited procedure to receive an approval for the participation in the secondary auction.
Asia-Pacific Bank is the largest private bank in Siberia and Far East. In IH it was rated at the 63d position by the volume of net assets (above 112bn rub.). The Bank has 800ths private clients and 20ths companies. In July 2016 ATB acquired M2M Bank which was held by the owner of Azbuka Vkusa (A.Vdovin). In Dec. 2015 the license of M2M was revoked. In Apr. 2018 the financial restructuring of ATB was started through the Banking Sector Consolidation Fund. The ATB sale is the first in the Fund's history.
"AK&M", 19:02, 08.02.2019 1251 AKM,COR,ECO0