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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Russia raises $3.3 bln selling 10pct of VTB Group

Posted on 15 February 2011

From Bloomberg: Russia raised $3.3 billion selling a stake in VTB Group in the largest state asset sale since the bank’s initial public offering almost four years ago. “Several” sovereign wealth funds from northern Europe and Asia bought stock in the offering, as did companies from “all over the world, including the U.S., U.K., Europe and Asia,” Finance Minister Alexei Kudrin said.
Prime Minister Vladimir Putin’s government sold 10 percent of the bank to a group of investors for 95.7 billion rubles, the country’s second-biggest lender said in a statement today……………………………………….Full Article: Source


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