Russia's VTB likely to sell majority holding in Estonian Krediidipank ({{commentsTotal}})

Krediidipank will begin operating under the name Coop Pank in fall 2017.
Krediidipank will begin operating under the name Coop Pank in fall 2017. Source: (Martin Dremljuga/ERR)

Russian financial group VTB is apparently planning to sell its majority shares in Estonia's Krediidipank

In September 2016, VTB reclassified its investment in Estonia's Krediidipank from investments in associates accounted under the equity method into a disposal group held for sale and considers sale to be highly probable, VTB stated in its interim report published on Monday.

VTB currently holds 59.7 percent of shares in the Estonian bank.

It doesn't appear from the report whether any letters of intent concerning a potential sell-off have been signed or there is any party interested in acquiring the shares.

Editor: Editor: Aili Vahtla

Source: BNS