OREANDA-NEWS. Otkritie Financial Corporation announces that Boris Mints and Anatoly Chubais intend to sell their full stakes in the company and that these shares will be acquired by Otkritie’s Chairman of the Board of Directors, Vadim Belyaev, and CEO Ruben Aganbegyan.

Mr Mints will sell his 11.17% stake before September 2013 and Mr Chubais will sell his 1.1% stake. These shares will be acquired by Mr Belyaev and Mr Aganbegyan who will buy 3.52% and 8.74% stakes respectively.

Otkritie Chairman Vadim Belyaev said: “I am grateful to Boris for his contribution in transforming Otkritie. Since 2004, when he became my business partner and a shareholder in the company, our business has grown tremendously. We have developed from a small independent broker into a major market player, becoming one of Russia’s largest private financial groups. We will continue to work with Boris through a collaboration with his company O1 Group.”

Boris Mints, Otkritie’s President, said: “I have devoted almost 10 years to Otkritie and believe it to be one of the most interesting and successful projects in my career. At the same time, I have increasingly focused on developing my own investment business - O1 Group. For this reason I have gradually reduced my stake in the Corporation and resigned as Otkritie FC’s Chairman of the Board of Directors last winter. I am grateful to the Otkritie team and shareholders, in particular Vadim Belyaev, for the experience and opportunity to participate in such an interesting project.”

Anatoly Chubais added: “My investment in Otkritie has always been purely financial. It has been a very successful project and as agreed when I joined, I am now selling my stake alongside Boris.”