Russia Partners Buys 7 Percent in Orient Express Bank (CEE and CIS)

Source: PRIME

Russia Partners, a Russia-focused subsidiary of private equity firm Siguler Guff & Company, has acquired a seven percent stake in Russia-based Orient Express Bank through a share offering. Existing investors also participated in the issue, including Russia-focused private equity firm Baring Vostok Capital Partners, International Finance Corporation and Orient Express Bank CEO Sergei Vlasov, with equity stakes of 30 percent, 13.9 percent and 11.7 percent, respectively. Orient Express Bank raised a total of RUB4.6 billion (approximately US$146.7 million) through the share issue, but financial details of the purchases were not disclosed.