Uzbekistan to privatise stakes in two commercial banks

By bne IntelliNews November 25, 2015

Uzbekistan’s State Committee for Privatisation, Demonopolisation and Development of Competition will sell state-owned stakes in Turonbank and Alokabank on the Tashkent Stock Exchange.

The committee said it will auction a 63.1% in Turonbank with a starting prices of $29.9mn and a 47.6% stake in Alokabank with a starting price of $47.72mn.

In February 2015, the Uzbek government announced a massive privatisation campaign. According to the April government decision, Uzbekistan will sell state-owned stakes in 1,247 enterprises, including 512 enterprises that will be offered for free, if investors assume investment obligations.

Related Articles

S&P cuts Azerbaijan's Muganbank to 'CCC+/C' amid bankruptcy rumours

Ratings agency Standard & Poor's (S&P) downgraded Azerbaijani Muganbank's credit ratings from 'B-/B' to 'CCC+/C' with a negative outlook on June 21. In its report, the agency justified its ... more

EBRD, KfW DEG increase stakes in crisis-stricken Azerbaijani Unibank

The European Bank for Reconstruction and Development (EBRD) has increased its share in Azerbaijan's default-threatened Unibank from 12.15% to 21.9% while the German Investment Corporation (KfW DEG) ... more

National Bank of Greece reportedly mulls selling its Macedonian subsidiary

Troubled National Bank of Greece (NBG) is in serious talks to sell its Macedonian subsidiary Stopanska Banka Skopje (SBS), Macedonia media reported on June 19. NBG has already sold several of its ... more