Bloomberg News

Nomos Bank Nears Agreement to Acquire Otkritie, Vedomosti Says

July 17, 2012

Nomos Bank may reach an agreement to acquire Otkritie Financial Corp. as early as this week, Vedomosti reported, citing an unidentified person familiar with the matter.

The combination would be Russia’s second-biggest private bank, with a possible market value of $2.6 billion, the newspaper said.

The negotiations were confirmed by an unidentified co-owner of one of the banks and an executive at a company affiliated with the other, Vedomosti said.

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net


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