Alrosa to get aid from VBT

Alrosa’s intent to buy a 25% stake in Polyus Gold has attracted Russia’s second largest state owned bank Vneshtorgbank (VTB). The bank has indicated to lend a financial support of at least US$2 billion to Alrosa’s deal.

VTB’s President Andrei Kostin mentioned that, “We are interested in a deal worth at least $2 billion with Polyus Gold. The management of Alrosa has asked us to finance the deal, where we will act as the lending bank”, although no preliminary agreement has been signed as yet.