July 22, 2016 / 10:52 AM / 4 years ago

BRIEF-State increases stake in Tatfondbank to 35 pct

July 22 (Reuters) - Tatfondbank :

* Says Tatspirtprom buys 6.93 pct stake in company for 1 billion roubles ($15.52 million)

* Says following Tatspirtprom’s transaction state’s stake, owned directly and indirectly, in company increases to 35 pct from 28 pct

* The proceeds from the sale of stake will be used for tier 1 capital increase, thus bank’s own capital amounted to 27.9 billion rubles

* Tatspirtprom is wholly owned unit of Svyazinvestneftekhim, sole shareholder of which is Republic of Tatarstan Source text: bit.ly/2aArLdg Further company coverage: ($1 = 64.4375 roubles) (Gdynia Newsroom)

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