Otkritie sold Tochka to Trust

The fact of the transaction became known from a lawsuit filed by a disgruntled minority shareholder. In February, Otkritie was sanctioned , the parties claim that the sale took place before that

At the beginning of this year, FC Otkritie sold a 90% stake in Tochka Bank, which provides services to small and medium-sized businesses, to Trust Bank, information about the transaction was confirmed by RBC in the press services of both financial and credit structures. The sale of Tochka's shares was previously reported by Kommersant with reference to a lawsuit filed by Tochka's minority shareholders, who insist that their interests were violated.

“90% of the Tochka shares were sold by the Otkritie bank even before the introduction of the February sanctions, at a market price. Tochka's shareholders will, of course, settle all issues related to the management of the company. These changes will not affect the business of Tochka, ”the press service of Otkritie told RBC.

On February 24, Otkritie Bank, along with a number of other Russian banks, fell under US sanctions: the US authorities put it on the SDN list, which means blocking the bank's DOLLAR assets and property; restrictions were also introduced by the European Union and CANADA.

Trust also emphasized that the deal was completed before the imposition of sanctions against Otkritie, but declined to provide details of the purchase.

As Kommersant notes, on June 7, the Moscow Arbitration COURT accepted the suit of Catalytic People against FC Otkritie and Trust, a third party involved in the case was JSC Tochka. Catalytic People Limited is a Cypriot company that owns the remaining 10% stake in Tochka, according to the publication, it is controlled by a group of investors led by Boris Dyakonov and Eduard Panteleev. According to Kommersant, the minority shareholder asks to transfer the rights of the buyer of Tochka to himself, insisting on the pre-emptive right to acquire shares.

The Central Bank postponed the sale of the sanitized Otkritie Bank amid sanctions

Otkritie Bank came under the control of the Central Bank in 2017 as a result of reorganization. After the financial recovery, the regulator announced its intention to sell the asset in 2021, but the deal had to be postponed due to the CORONAVIRUS pandemic. Last summer, the Central Bank again announced the start of pre-sale preparations for Otkritie, but in March, due to sanctions, it had to be abandoned again. In April, the Central Bank began to consider the possibility of consolidating Otkritie with VTB and the Crimean RNCB.

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Bank for Entrepreneurs Tochka was founded in Yekaterinburg in 2015 on the basis of the Otkritie branch. In September, Otkritie bought 40% of Tochka from Qiwi, increasing its stake to 90%.

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