VTB Capital raises 330m euros from the sale of InterV Investment
VTB Capital, an investment-banking unit of VTB Group, has raised €330m from the sale of InterV Investment to Bulgarian businessman, Spas Roussev, according to reports. VTB Capital had launched the sale of the company in October following a default on a €150m loan to an indirect holding company of Vivacom.

Russia’s VTB Capital raises 330 mln euros from sale of Bulgarian firm

MOSCOW, Nov 20 (PRIME) -- Russia’s VTB Capital, an investment-banking arm of Russia’s VTB Group, has raised 330 million euros from the sale of holding firm InterV Investment, which owns major Bulgarian cellular operator Vivacom, VTB Capital said Friday in a statement.

“The price of 330 million euros offered by the auction’s winner is a serious premium for shareholders with regards to the credit price,” VTB Capital said.

Bulgarian radio Darik reported earlier on Friday that Bulgarian businessman Spas Roussev had won the auction. His main competitor was a tandem of Greek Olympia Group and hedge fund Third Point.

The auction was held for more than 12 hours and contained 25 rounds.

VTB Capital launched the sale of the company in October following a default on a 150 million euro loan to an indirect holding company of Vivacom.

Milen Velchev, head of the Bulgarian office of VTB Capital, said earlier that the Russian company intended to recover at least 180 million euros, including taxes and interest, from the deal.

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