MDM Bank seeks Arab, Asian sovereign wealth investors

By Ivan Anderhanov.

MDM Bank, Russia’s second largest private lender,  is holding talks with some Asian and Arabic sovereign investment funds, including Abu Dhabi Investment Authority and Investment Corporation of Dubai.

MDM, whose shareholders include businessman Sergey Popov with a 56.3 percent stake and Igor Kim with 11 percent, may offer up to a blocking stake of 25 percent to the potential investor, according to Kommersant.

The bank merged with URSA  merged with Siberian-based Ursa in December 2008.