SBI Holdings, RCIF to invest in Russia’s Sovcombank

Prime, 10.09.2018

VLADIVOSTOK, Sep 10 (PRIME) -- Japan’s SBI Holdings has joined a consortium of investors in Russia’s Sovcombank with the Russia-China Investment Fund (RCIF), the Russian Direct Investment Fund (RDIF) said in a statement on Monday.

“Extension of the consortium will allow Sovcombank to spend additional money on development of the Russian business, and will become another step towards an initial public offering (IPO),” an official of the RDIF said.

According to earlier statements, the consortium will buy a minority stake in the bank.