Selling a 14.4% share of PSB its majority shareholders, Commerzbank will have the same € 150 million that he paid for his stake in 2006. Deutsche Bank, whose participation in kaptale increased the attractiveness of PSB in the eyes of potential investors is an urgent need to sell non-core assets.
German Commerzbank intends to sell its stake in PSB (14.4%), reported on its website. This package will buy the majority shareholders of PSB, the bank said. 73.89% stake in PSB, included in the top 15 Russian banks through ZAO "Promsvyaz Capital BV" owned by Dmitry and Alexei Ananiev.
The amount of the transaction is approximately € 150 million, that is the same as cost entry into the capital of Commerzbank PSB fall of 2006, according to a German bank. "In terms of the agreement with German shareholders spelled out the possibility of capital without losing their investments," - explains the source of "b" familiar with the terms of the transaction. Capital PSB 50.8 billion rubles. "On this basis, 14.4% of the shares of PSB should cost 7.3 billion rubles. - Fitch ratings analyst estimated Vladimir Markelov .- selling this package for € 150 million (at current exchange rates - 6 billion rubles.), Commerzbank sells stake by a factor of 0,8-0,83 to capital. " In 2006, Commerzbank bought its stake from 1.8 to capital ratio. In terms of effectiveness of this investment, according to experts, it is possible to estimate "at best be neutral," as direct losses are small, but there is a loss of revenue from alternative investments.
Commerzbank now has to sell non-core assets. As one of the systemically important banks eurozone (Commerzbank - the second largest bank assets FRG), it must raise the capital adequacy ratio of the first level to 9% by mid-2012, European stress tests of bank management have shown that this bank must raise capital by € 5.3 billion
PSB Commerzbank gave additional security to potential investors. "The market knew that the Commerzbank, one of the major European banks, at one time planned to increase the share capital up to the PSB control, so the output of the shareholders is not desirable for PSB," - said a source close to the PSB. However, against the overall volatility in Europe, leaving Commerzbank looks not as critical as it would in more normal times, an analyst at Nomos Bank Helena Fedotkova. "The overall output from the shareholders of Commerzbank PSB is a bad sign for investors, but it remains the EBRD (he owns 11.75% shares of PSB .-" b "), who participated in the additional issue of shares and subordinated loan granted to him in December," - concludes Vladimir Markelov. The press service of PSB on the exit of the German bank among the shareholders said: "As this development is predictable and controllable, then the PSB feels relatively comfortable."
German Commerzbank intends to sell its stake in PSB (14.4%), reported on its website. This package will buy the majority shareholders of PSB, the bank said. 73.89% stake in PSB, included in the top 15 Russian banks through ZAO "Promsvyaz Capital BV" owned by Dmitry and Alexei Ananiev.
The amount of the transaction is approximately € 150 million, that is the same as cost entry into the capital of Commerzbank PSB fall of 2006, according to a German bank. "In terms of the agreement with German shareholders spelled out the possibility of capital without losing their investments," - explains the source of "b" familiar with the terms of the transaction. Capital PSB 50.8 billion rubles. "On this basis, 14.4% of the shares of PSB should cost 7.3 billion rubles. - Fitch ratings analyst estimated Vladimir Markelov .- selling this package for € 150 million (at current exchange rates - 6 billion rubles.), Commerzbank sells stake by a factor of 0,8-0,83 to capital. " In 2006, Commerzbank bought its stake from 1.8 to capital ratio. In terms of effectiveness of this investment, according to experts, it is possible to estimate "at best be neutral," as direct losses are small, but there is a loss of revenue from alternative investments.
Commerzbank now has to sell non-core assets. As one of the systemically important banks eurozone (Commerzbank - the second largest bank assets FRG), it must raise the capital adequacy ratio of the first level to 9% by mid-2012, European stress tests of bank management have shown that this bank must raise capital by € 5.3 billion
PSB Commerzbank gave additional security to potential investors. "The market knew that the Commerzbank, one of the major European banks, at one time planned to increase the share capital up to the PSB control, so the output of the shareholders is not desirable for PSB," - said a source close to the PSB. However, against the overall volatility in Europe, leaving Commerzbank looks not as critical as it would in more normal times, an analyst at Nomos Bank Helena Fedotkova. "The overall output from the shareholders of Commerzbank PSB is a bad sign for investors, but it remains the EBRD (he owns 11.75% shares of PSB .-" b "), who participated in the additional issue of shares and subordinated loan granted to him in December," - concludes Vladimir Markelov. The press service of PSB on the exit of the German bank among the shareholders said: "As this development is predictable and controllable, then the PSB feels relatively comfortable."
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