MOSCOW, July 2 (RIA Novosti) - Barclays Bank Plc. has completed a $745 million deal to buy 100% of shares of Expobank, a leading Russian retail and commercial bank, the British bank said Wednesday.
"The acquisition of Expobank advances Barclays strategy of increasing its presence over time in emerging markets with good growth characteristics. Expobank has a substantial presence in Moscow and a growing footprint in St. Petersburg," the bank said in a statement.
Barclays Bank Plc. signed an agreement with Petropavlovsk Finance on purchasing 100% of Expobank, one of the top 100 banks in Russia, in March 2008. The deal was closed after Barclays received approval for the acquisition from the Russian Central Bank.
