Alfa-Bank will soon go through a reorganization in the form of a merger with Bank Severnaya Kazna. It was decided at the BOD meeting today that the issue would be considered at Alfa-Bank’s extraordinary general meeting. The EGM has been scheduled for March 22, 2011.

The shareholders will also have to discuss the ways of informing creditors and the Bank of Russia about the upcoming reorganization and to make changes in the company’s Charter.

The Board of Directors decided that the bank’s ordinary shares can be bought out at 1,112 RUR apiece.