VTB Group Takes Over Armenian Subsidiary

Emil Lazarian News

VTB GROUP TAKES OVER ARMENIAN SUBSIDIARY

RosBusinessConsulting, Russia
July 25 2007

RBC, 25.07.2007, Yerevan 18:45:19.VTB Group has become the owner of
100 percent of VTB Bank (Armenia) shares. According to the Armenian
bank’s General Director Valery Ovsyannikov, VTB Group acquired 30
percent minus one share from Mika Armenia Trading Ltd on July 25,
thus becoming the sole owner a 100-percent stake in its Armenian
subsidiary VTB Bank (Armenia), the ARKA news agency reported.

According to Ovsyannikov, the deal will enable the bank to make a
further step to increasing its capital.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS