British investor acquires Kapital Menecment Investment Company - EXCLUSIVE

Baku. 29 November. REPORT.AZ/ An insider deal has been concluded on 99% of shares of Kapital Management Investment Company, subsidiary of "Texnikabank" OJSC, which is in the process of liquidation.

Report informs, the company was sold to the UK's Plato Capital International Holding Ltd., after approval letter from the Financial Market Supervisory Authority of the Republic of Azerbaijan (FIMSA).

It is known that managing officials of Kapital Management will not change. Director Ruslan Jafarov will stay in his post. The regular general meeting of shareholders of Kapital Management will be held on December 29. The meeting will focus on reorganization of the Supervisory Board, internal audit and risk management, as well as other issues.

Notably, Kapital Management was established in 2002 under the name "Texnika Kapital Menecment" and rebranded in 2015. Its authorized capital is 380,000 AZN. Following the cancellation of Texnikabank's license, the Bank's liquidator - Azerbaijan Deposit Insurance Fund (ADIF) has taken control of the company.