‘Renova Group’ became a shareholder of Bank of Cyprus

“Renova Group”, which belongs to Viktor Vekselberg, became the second largest shareholder of the Bank of Cyprus, says the press office of the Bank of Cyprus. 

Overall the bank’s capital was increased by 1 billion EUR. The new list of affiliated persons has been published. “Renova Group” owns - 5,45%, TD Asset Management - 5,23%, the European Bank for Reconstruction and Development - 5,02%. Largest shareholder is Cyprus Popular Bank Public Co Ltd, which owns 9.62% of the shares. The representative of "Renova» Andrey Shtorkh points that "We believe that this is a very promising financial investment, as now very undervalued asset», -  «Interfax» reports.

"Renova" does not comment on the figure of investments, however, the sources of The Financial Times previously evaluated EBRD investment in an additional issue of Bank of Cyprus in € 100 million, thus «Renova» investments can be evaluated in a commensurate amount.