OAO Alfa-Bank bought out all the shares of OAO Bank Severnaya Kazna that it hadn’t previously owned yet, thus increasing its stake from 95.03099% to 100%, Alfa-Bank Yekaterinburg branch’s PR Director Anna Gorobtsova informed UrBC.

‘The buyout was completed in full compliance with the legal requirements and at a market price that was actually higher than the price Alfa-Bank purchased the stock at during the buyout offer launch,’ she said.

Alfa-Bank offered to buy the shares out from Bank Severnaya Kazna’s other stockholders at the end of March 2010; the suggested price was 0.000256497 kopecks (0.00000256497 RUR) apiece, given that Bank Severnaya Kazna had been estimated to cost 158 RUR by an independent expert body at the time of the bank’s financial recovery struggle. The stockholders were supposed to make up their minds by June 2, 2010.

Now Alfa-Bank needed to go through with the buyout in order to integrate Bank Severnaya Kazna into the business. The decision about the merger was taken on April 1, 2010. Prior to this settlement, Alfa-Bank had been considering making the Ural bank go into liquidation, among other options.

‘To sum it all up, Bank Severnaya Kazna is to merge with Alfa-Bank in accordance with its financial recovery plan,’ Anna Gorobtsova stated.