RBI considers sale of Russian subsidiary as best option for deconsolidation

20:39, 04.04.2024 1 min read

The board of Raiffeisen Bank International AG (RBI) considers the sale of Russian Raiffeisen Bank to be the best option for deconsolidation, RBI spokesman Christof Danz told Interfax-Ukraine on Thursday.

"The RBI Board is obliged, in accordance with the legislation on joint stock companies, to minimize damage to RBI shareholders. After careful consideration [of this issue], the RBI Board came to the conclusion that the best solution for RBI shareholders is the deconsolidation of Raiffeisenbank Russia. The preferred option is a sale," according to the letter.

Danz said if the implementation of this option is not feasible, an alternative could be the separation of Russian Raiffeisen from RBI.

"Regarding the potential deal with Strabag: RBI continues to work on the deal but cannot provide a timeline for its possible closure at this time," he said.