GERMANY/RUSSIA: Babayevsky's controlling stake sold to Amidis
Russian bank Inkombank's controlling 51.06% stake in confectionery company Babayevsky has been sold, according to some sources, to the company Amidis on behalf of the Moscow city government and top managers at Babayevsky. Inkombank was declared bankrupt on 1 February 2000, but the planned sale of its Babayevsky stake was disputed by representatives of the bank's German creditors, who said that they had not received any documents on the basis of which a balanced decision on a sale could have been made.
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