Skip to main content
Contact
Platform Logins

Transfer ban for shares of Russian AO Raiffeisenbank

AO Raiffeisenbank (Russia) shares are subject to a transfer ban imposed by a Russian court decision

  • By Communications

A Russian court has today issued a preliminary injunction, by which shares of AO Raiffeisenbank are subject to a transfer ban with immediate effect. Raiffeisen Bank International AG (“RBI”) is the 100% shareholder of AO Raiffeisenbank.

The decision is related to the legal proceedings recently initiated by Rasperia Trading Limited in Russia against STRABAG SE, its Austrian core shareholders and AO Raiffeisenbank. AO Raiffeisenbank is mentioned in the claim as related to the other defendants, although not accused of any wrongdoing. RBI is not a party to these proceedings.

As a result of today’s decision RBI cannot transfer its shares in AO Raiffeisenbank. This complicates the sales process in which RBI seeks to sell a controlling stake in AO Raiffeisenbank – and will inevitably lead to further delays. RBI will attempt to reverse today’s court decision by all legal means.