Control requires exposure or rights to variable returns and the ability to affect those returns through power over an investee.

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Nomos-Bank is considered to be a main contender for this stake.

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The Federal Anti-Trust Service (FAS) has satisfied a request submitted by KN-Estate LLC, a subsidiary non-banking entity of Nomos-Bank, to acquire 31.3% of Bank of Khanty-Mansiysk’s voting shares, which will increase the company’s interest in the lender to 51.29%, Prime-TASS reported quoting the anti-trust body’s data.

For the record, KN-Estate bought 19.99% of Bank of Khanty-Mansiysk at the end of 2011 as part of restructuring at Nomos-Bank Group.

The deal’s goal, as the bank specified, was to optimize distribution of capital among the group’s companies.

All in all, Nomos-Bank Group commands 51.29% of Bank of Khanty-Mansiysk shares, with the entire block of shares held on KN-Estate’s balance sheet.

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IFRS 10 Consolidated Financial Statements outlines the requirements for the preparation and presentation of consolidated financial statements, requiring entities to consolidate entities it controls.