Share holding of Commercial Bank Gran possibly bought by financial holding of Moscow

A share holding of Commercial Bank Gran is reported to have possibly been bought by a financial holding of Moscow. Converse Group Holding appears to be the likeliest buyer, says UrBC private source.

According to the facts available so far, the transaction has already been made and the legal proceedings are to have been finalized by the end of February 2006. The arrival of the new owner may result in Gran entering the holding and the introduction of the new bank management. As the holding official website has it, Converse Group currently consists of thre Russian financial enterprises, namely, Converse Bank, Converse Bank of Mocow, and Yenissey Bank, and two crediting organizations coming from the Baltic states of Lithuania and Latvia (Snoras Bank and Latvijas Krajbanka, respectively). The holding sees geographical expansion as one of its top priorities at the moment.

Neither of the transaction participants has yet commented on the deal.


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