TKS-Bank sells 4 per cent interest to fund for USD 40 million

According to Russian business daily Vedomosti (1 November 2012), Horizon Capital-Emerging Europe Growth Fund II has acquired a 4 per cent interest in TKS-Bank, which is co-owned by Oleg Tinkoff,  thereby valuing the whole bank at USD 1 billion. The fund plans to hold the investment for five years.

Previously Tinkoff had indicated that the bank might hold an IPO in late 2013 early 2014 in order to raise USD 500 million and enable existing shareholders Goldman Sachs, Baring Vostok Private Equity and Vostok Nafta to sell shares.

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