Банкеръ Weekly

Briefs

ROSSEXIMBANK SOLD ITS STAKE IN CCB

Rosseximbank sold the last shares it held in the Central Cooperative Bank (CCB). By mid-August Rosseximbank controlled 24.4% of CCB's capital, but transferred 14.4% of it to the German company Bulchimex, which is in fact is 100% owned by Chimimport and the Cyprian offshore company Otornio Investments. Both companies are connected with the Varna strong-arm group TIM. A week ago Rosseximbank sold the remaining 10% of its stake in CCB. Another offshore company, associated with the Varna-based group, is believed to have acquired the stake. Bank circles comment that TIM is planning to take control over more than 51% of CCB's capital through companies in its structure. Rosseximbank mediated in the acquisitions. Its managers informed the Bank Consolidation Company (BCC) about their willingness to acquire its 32.2% stake in BBC. Eurobank is interested in the stake too. If BCC accepts Emil Kyulev's offer and sells 32.2% of the shares to Rosseximbank, then the banker will probably transfer them to TIM-related companies.

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