M&A Deal Summary

Sovcombank PJSC Acquires Vostochny Bank

On March 25, 2021, Sovcombank PJSC acquired financial services company Vostochny Bank from Baring Vostok Capital Partners

Acquisition Highlights
  • This is Sovcombank PJSC’s 1st transaction in the Financial Services sector.
  • This is Sovcombank PJSC’s 2nd transaction in Russia.

M&A Deal Summary
Date 2021-03-25
Target Vostochny Bank
Sector Financial Services
Buyer(s) Sovcombank PJSC
Sellers(s) Baring Vostok Capital Partners
Deal Type Add-on Acquisition

Target

Vostochny Bank

Blagoveshchensk, Russia
Vostochny Bank is a retail bank with assets of RUB 192 billion (IFRS). For more than 15 years, it has focused on retail loans. Vostochny employs 10,000 employees in 570 offices, the majority of which are located in the Russian Far East, primarily in smaller towns. The bank operates in every municipality in the Russian Far East that has a population of more than 10,000. It is a member of the Deposit Insurance System and is included in the registry of credit organizations treated as significant players in the payment services market by the Bank of Russia.

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Buyer(S) 1

Buyer

Sovcombank PJSC

Kostroma, Russia
Category Company
Founded 1990
Sector Financial Services
DESCRIPTION

Sovcombank PJSC is one of the largest in terms of assets and most profitable banking groups in the Russian Federation. Sovcombank PJSC offers retail banking products, such as current accounts, savings, consumer loans, and life insurance products to pensioners and pre-retirement age customers; personal loans; and bancassurance products.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Russia) 2 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-25 Aviatsionnye Tekhnologii Svyazi

Russia

Aviatsionnye Tekhnologii Svyazi LLC engages in robotization of call centers based on artificial intelligence. The company is based in Russia.

Buy -

Seller(S) 1

SELLER

Baring Vostok Capital Partners

Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 3.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Baring Vostok Capital Partners is a private equity firm focused on opportunities throughout Russia and the CIS. The Firm looks to commit $30 to $200 million per transaction and generally targets rapidly-growing, later stage companies facing challenges. Sectors of interest include internet, software, media, telecom, natural resources, financial resources, and consumer products/services. Baring Vostok Capital Partners was established in 1994 and is headquartered in Moscow.

DEAL STATS #
Overall 7 of 7
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Russia) 4 of 4
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-17 Synergetic

Nizhny Novgorod, Russia

Synergetic is a manufacturer and seller of environmentally friendly detergents based on herbal ingredients based in Nizhny Novgorod, Russia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-09 Mindbox

Moscow, Russia

Mindbox is an integrated cloud-based marketing automation platform. With Mindbox, companies can set up impactful, non-intrusive and helpful customer communications from SMS blasts and email newsletters to loyalty programs and website personalization. Mindbox was formed in 2006 and is based in Moscow, Russia.

Buy -
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