Roman Avdeev completes takeover of FCA regulated prime broker Otkritie, now called Sova

Roman Avdeev Sova Capital prime broker

FCA-regulated multi-asset prime-broker Otkritie Capital International Ltd (OCIL), which has offices in London and Moscow, has announced that after receiving all the necessary legal and regulatory approvals, full legal ownership and control of the company has now fully transferred to the new owner, Despacio Associates Ltd, a wholly owned subsidiary of the “Concern ROSSIUM” group.

ROSSIUM is controlled by Russian billionaire Roman Adveev, one of the country’s most colorful businessmen. He is the majority owner of Credit Bank of Moscow, one of Russia’s largest banks, which went public in 2015. He bought control of a pharmacy chain called A5, then resold it to rival chain 36.6, in exchange for a 10% stake in the combined company. He is also a large owner of real estate in Moscow. Roman Avdeev reportedly has 23 children, 19 of them adopted. The 50-year old Adveev is also a vegetarian and regularly practices yoga.

As part of the transaction, it has been decided to change the name of the company from Otkritie / OCIL to Sova Capital Limited.

Sergey Sukhanov, CEO of OCIL (now Sova) stated:

The strength and stability of ROSSIUM’s position on the market together with a high level of expertise of the OCIL team will strengthen the company’s competitive advantages and provide opportunities for further development with an ambition to build a strong international brand on the financial market.

Commenting on the closing of the deal Roman Avdeev said:

As we reported earlier, the purchase of Otkritie Capital is a part of the development strategy for the Group of Companies in the field of investment business and strengthening its position in the financial services market.

OCIL / Sova stated that it will continue to operate within the framework of existing agreements with customers, counterparties and exchanges. The organic integration into the financial structure of the Group of Concern “ROSSIUM” will further strengthen and develop the company’s business and improve its product offering in accordance with its strategy.

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