Finance
Raiffeisen Takes €800 Million Hit in Deal to Sell Belarus Unit
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Raiffeisen Bank International AG agreed to sell its Belarusian unit in a deal that will dent its profit by about €800 million ($893 million) at closing.
The Viennese lender will sell its 88% stake in Priorbank JSC to UAE-based Soven 1 Holding Limited, with closing expected by the end of the year, it said in a statement on Friday. The bank didn’t disclose financial details of the transaction.