Swedbank acquires Russian investment bank ZAO OKO Capital Vostok from Finland's OKO Bank

Nordic Business Report, Dec 21, 2007

NORDIC BUSINESS REPORT-21 December 2007-Swedbank acquires Russian investment bank ZAO OKO Capital Vostok from Finland's OKO Bank(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish bank group Swedbank announced on Friday (21 December) that it has agreed to acquire the Russian investment bank ZAO OKO Capital Vostok from Finland's OKO Bank.

The purchase price was not disclosed.

Capital Vostok focuses on providing advice to Nordic and Russian companies involved in acquisitions and divestments in Russia. The company has seven employees.

In connection with the deal Swedbank also signed a cooperation agreement with OKO Bank's subsidiary OKO Corporate Finance Ltd. The agreement covers cooperation in corporate finance operations in Russia, the Baltic countries and the Nordic countries.

Swedbank, headquartered in Stockholm in Sweden, is a leading financial group with some 9m retail customers and 500,000 corporate customers in Sweden, the Baltic countries and Ukraine. The group is also present in Copenhagen, Helsinki, Kaliningrad, Kiev, Luxembourg, Marbella, Moscow, New York, Oslo, Shanghai, St Petersburg and Tokyo. The group has 17,000 employees and total assets of SEK1,400bn. Swedbank is listed on the OMX Nordic Exchange in Stockholm.

One British pound (GBP) is worth approximately 13.04 Swedish kronor (SEK).

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