The sale of Freedom Holding’s Russian business came in at a book value below the holding’s expectations. About this RBC declaration the head of the company is Timur Turlov.
“The agreement with the Russian bank to sell the investment company Freedom Finance took place when the asset was valued by the company’s own capital, that is, by the amount of funds in its accounts and the value of its assets,” Turlov said. aforementioned.
According to him, part of the business was bought for 140 million dollars, while due to the sanctions, the deal took place in Russia’s financial sector. Only the price of the asset may be higher because a lot of work has been done in terms of starting a business, so he is not satisfied with the amount received. However, the fact of the sale as a whole is pleasing.
He added that he does not rule out the possibility of the holding returning to the Russian market in case of re-establishing international relations with the country. However, all business in Russia will have to start from scratch.
At the end of October, Kommersant WroteThe new name for the Russian business of investment holding Freedom Holding Corp. – IC will be “Liberty Finance” – “Digital Broker”. The holding’s bank with the same name (Freedom Finance Bank) will operate under the Cifra Bank brand.
Source: Gazeta
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