Lebedev to sell National Reserve Bank piecemeal

According to Russian business daily Vedomosti (6 November 2012), former KGB agent and oligarch Alexander Lebedev, who also owns the Independent and Evening Standard in the UK, has decided to sell his National Reserve Bank, which posted a loss of RUB 2.2 billion (approximately GBP 45 million) as at 1 October 2012, in stages.

He will start by selling 75 per cent of the bank’s credit portfolio (totalling at present RUB 16.8 billion or the equivalent of GBP 335 million) and then sell real estate, including in the centre of Moscow and Saint Petersburg and Voronezh. He has already offered for sale the Olympisky business centre in Sochi. In addition Lebedev will sell the shares in Aeroflot and Gazprom on the bank’s balance sheet.

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