VTB is in negotiations to buy out the 40 percent of Ingosstrakh held by Czech investor Petr Kelner’s PPF private-equity firm and Italian insurance giant Generali, according to a source close to one of the Russian insurance company’s shareholders.
This was confirmed by managers at VTB and PPF. A 40 percent stake in the insurance company could be worth $1 billion, said Pavel Samiyev, deputy general director of Expert RA.