ArmInfo. VTB bank is currently in the final stages of completing the sale of the Hals developer and a copper production enterprise in Armenia, as stated by VTB CEO Andrey Kostin during a business dialogue titles "Capital of Change: Outlines of a New Investment Landscape," TASS reports.
"We have already sold several hotels, are in the process of completing the sale of the Hals development company, and are negotiating the sale of Pulkovo Airport and a grain farm. There was also a copper production enterprise in Armenia, acquired as a debt repayment, and we are at the final there as well," he said.
Recall, in January 2018, the Teghut Mining and Processing Plant (MPP) in Armenia was taken over by VTB Bank after its previous owner, Vallex Group, failed to meet loan obligations. VTB had financed the construction ($283 million), and as of 2024, the plant is fully operational through its subsidiaries, despite experiencing temporary suspensions in the past.
