BELGIAN COMPANY ACQUIRES 10% OF ARMENIAN ARARATBANK SHARES

news.am
October 29, 2012 | 18:30

YEREVAN. - Belgian "Incofin Investment Management" investment company
has acquired 10% of shares of Armenian Araratbank.

The agreement was signed on Monday between the bank and one of the
structures of investment company - Rural Impulse Fund II (RIF II).

Geert Peetermans, Belgian company's responsible for investment,
Araratbank chairman Barsegh Beglaryan and chairman of the bank's
board Ashot Osipyan signed the agreement.

The overall investment portfolio of RIF II is 120 million euro.

Araratbank's control stock belongs to the Armenian Flash oil trader,
while a part of shares is owned by the European Bank for Reconstruction
and Development (EBRD).