Project description
and objectives:
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The proposed project envisages an equity investment to acquire 15% of the
share capital in Hansabank’s newly acquired Russian subsidiary. The investment
will support the USD 100 million capital increase of the bank and allow it to
expand its operations into a full service bank.
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Transition impact:
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The proposed transaction will support the entry of new strategic investor into
Russia that has experience of operating in similar environment to Russia. This
will increase competition in the Russian banking sector and support the
development of it.
The Company will focus on serving Baltic, Scandinavian and Russian companies
involved in cross-border trade between these countries. Hence the transaction
will also help to facilitate cross-border trade between Russia and European
Union.
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The client:
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Hansabank, 99% owned by Swedbank, is the largest financial services group in
the Baltic states. Its operations consists of retail and corporate banking,
life insurance and asset management in three Baltic states.
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EBRD finance:
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Equity investment of USD 15 million for purchasing recently issued shares from
AS Hansabank.
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Total project cost:
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USD 100 million.
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Environmental impact:
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Hansabank will be required to comply with EBRD’s Environmental Procedures for
Intermediated Financing through Local Banks, including adherence to the
Environmental Exclusion and Referral List, compliance with the applicable
national environmental, health and safety legislation, and submission of
annual environmental reports to EBRD.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mr. Druvis Murmanis, CEO
Tel: +7 095 777 63 77
Fax: +7 095 777 63 78
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EBRD contact:
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Tamara Kakuchaya, Operation Leader: kakuchat@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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