The Service of the Commission for the Protection of Competition received, according to Section 13 of the Control of Concentrations between Enterprises Law (Number 22(I)/99), a notification of a proposed concentration on behalf of the Dayarona Trading Ltd and Loramina Trading Ltd concerning the acquisition of part of the share capital of Development Bank Public Company Ltd.
Loramina Trading Ltd is a company duly registered under the laws of the Cyprus Republic. The scope of its establishment was the holding of investments but the company remained inactive. It will be active in Cyprus for the purposes of this transaction.
Dayarona Trading Ltd is a company duly registered under the laws of the Cyprus Republic. The company has no commenced business yet. It will be active in Cyprus for the purposes of this transaction.
Development Bank Public Company Ltd (CDB) is a company duly registered under the laws of the Cyprus Republic. It is a financial institution that provides banking and financial services including corporate banking, investment banking, personal banking and trade of foreign currency. It is active in Cyprus and in Russia through its subsidiary CJSC Investment Bank of Kuban.
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