Renaissance Acquires Banks

June 1, 2010

Renaissance Credit, a unit of Renaissance Group, agreed to buy 14 Barclays branches in Russia to expand its retail operations in the country.

Renaissance Credit will buy 12 Barclays branches in various Russian regions, one in Moscow and one in St. Petersburg, said Yelena Leshchinskaya, a spokeswoman for Renaissance. Renaissance Credit will gain rental rights and branch property in the deal, she said.

(Bloomberg)

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