FAS allows Rosbank to buy 100% of AVD

RIA NOVOSTI. The Federal Anti-Trust Service (FAS) considered and satisfied a request submitted by Rosbank, which is part of French group Societe Generale, to buy 100% of Agentstvo po vozvratu dolgov (AVD), FAS said in a press release. At present, Rosbank holds no equity stakes in this collection agency, RIA Novosti noted.

Previously FAS extended for two months the consideration of Rosbank’s request to buy AVD, a company established in 2005 and that currently operates 108 business units in over 60 regions of Russia. The aggregate amount of debts assigned to the collection agency is over Rub 91 bln.

Source: Banki.ru