BELARUS NEWS AND ANALYSIS
DATE:
11/03/2008
National Bank of Belarus to finalize sale of 99% stake in Paritetbank toSistema by April - source
MINSK. March 11. (Interfax) - The National Bank of Belarus will finalize the sale of its 98.77% stake in Paritetbank to Sistema (RTS: AFKS) in March-April 2008, a source in banking circles said.
"There are currently the necessary legal documents upon which both sides have agreed, a specific scheme for future action and a value appraisal of Paritetbank," the source said. "An agreement for [the bank' s] sale and purchase is being finalized, which will be ready in one or two months," he added.
The source also said that the state's decision for the stake sale has been prepared, upon which all interested ministries and departments have agreed.
The source said that both parties were continuing to discus the size of the National Bank's premium for the almost 100% stake in Paritetbank. He added that the sale price would exceed the value of bank's charter capital, which comes to 104.7 billion Belarusian rubles.
Paritetbank was 541st largest bank in the CIS and 12th biggest Belarusian bank as of the first half of 2007 in the Interfax-1000, compiled by the Interfax Center for Economic Analysis (CEA).
Sistema is the largest private sector consumer services company in Russia and the CIS.
At the end of January 2008, National Bank head Pyotr Prokopovich said that the sale of the stake in Paritetbank would be finalized in two to three months.
Source:
http://www.interfax.com/3/373127/news.aspx
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