Mostobud looks to take reins of Bank Arma

Mostobud (MTBD), on Feb. 19, signed an agreement to purchase 75% of Bank Arma, the latter told Interfax today. According to the deal, Mostobud is responsible for increasing the bank’s share capital by UAH 160 mln with the first tranche due by March 15, 2009. Bank Arma was Ukraine’s #105 largest bank (out of 182 total) by assets as of January 1, 2009. Arma was established in 2003.