Yelena Baturina, wife of the city of Moscow's former mayor Yury Luzhkov has sold Russky Zemelny Bank to foreign investors, Gennady Terebkov, a spokesman for Inteco, Baturina's core company, said on Thursday.
"In November, a deal to sell Baturina's 98.12% stake in Russky Zemelny Bank to several foreign investors was closed. The remaining 1.8% belong to minority shareholders," Terebkov told RIA Novosti news agency without mentioning the sum of the deal.
Russky Zemelny Bank declined to comment.
President Dmitry Medvedev sacked Luzhkov in September over the loss of trust after 18 years in office. Luzhkov's tenure was tarnished by allegations that Baturina, Russia's richest woman according to Forbes magazine, benefited from his position. The couple strenuously denied the accusation.
MOSCOW, December 9 (RIA Novosti)
