RUSSIA - Siguler Guff takes stake in MDM Bank
US-based private equity firm Siguler Guff has acquired a minority stake in MDM Bank, one of Russia's largest private banks, for an undisclosed amount.
MDM Bank is an independent provider of banking services in Russia, having formed through the merger of URSA Bank and MDM-Bank in August 2009.
Other international investors in MDM include the European Bank for Reconstruction and Development, the International Financial Corporation and DEG.
Boutique advisory and M&A firm Brunel Capital brokered the sale.
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