Russia's VTB Capital sees M&A opportunities in China
FTSE Global Markets (UK)
VTB Capital has signed a memorandum of understanding with Chinese investment bank CITIC securities in a bid to pursue cross border M&A and investment opportunities between Russia and China. Other areas of cooperation include capital markets, asset management, private equity investments, research and FX operations to capture trade flows between the two countries.
Alexei Yakovitsky, global chief investment officer at VTB Capital, says the Asia-Pacific market is one of the strategic regions for developing VTB Capital’s business abroad. “I am delighted to have signed a Memorandum of Understanding with a firm of the quality and standing of CITIC Securities,” says Yakovitsky. “A partnership with CITIC Securities will enable us to significantly enhance our position and provide a larger set of services for our clients with interest in the Chinese market that is currently one of the most attractive markets for investing.”
Damian Chunilal, chief executive officer Asia for VTB Capital, adds: “CITIC Securities is one of the leading investment banks in China and we are extremely happy that VTB Capital will continue its business development in Asia in partnership with a company that has excellent knowledge of the local markets. The signing of this memorandum is the next important step in the implementation of VTB Capital’s strategy to expand its business beyond Russia and CIS and it will allow us to strengthen business and trade relations between the two countries”.
“We expect substantial opportunities from this partnership, which will leverage already high cross border trade flows,” says Riccardo Orcel, deputy chief executive officer of VTB Group and head of Global Banking at VTB Capital. “VTB Capital has demonstrated its ability to attract Chinese investors to Russia with some very high profile transactions. We look forward to building on this momentum with our new local partner.”