Serbia calls tender for privatisation of Komercijalna Banka

Serbia calls tender for privatisation of Komercijalna Banka
By bne IntelliNews June 2, 2019

Serbia’s government launched a tender for the privatisation of the country's second-largest bank, Komercijalna Banka, on May 31.

The government is the biggest shareholder in the bank and hopes to sell a stake of between 50.1% and 83.23%.

Investors can express interest in bidding by June 21 and to prove they have at least three years of experience in banking and have assets worth at least €1bn or own at least 20% stake in a big banking group.

Other shareholders in the bank include the European Bank for Reconstruction and Development (EBRD) with 24.4%, and the International Finance Cooperation (IFC) with 10%.

The government plans to offer for sale its whole stake, while other shareholders may also decide to offer their shares.

In February, Serbian finance ministry chose French company Lazard as an adviser for the selection of strategic partner for Komercijalna Banka. The money that the state will receive for the purchase of the bank will be used for infrastructure projects.

Komercijalna Banka reported a consolidated pre-tax profit of RSD8.38bn (€71mn) in 2018.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Turkey’s Oct industrial output data “ice in pants for those hoping for V-shape recovery” says economist

Turkish industrial production rose for the second-straight month in October—but the pace of the recorded growth was significantly less than anticipated, weighing on expectations for a fast ... more

Turkish coach and light truck maker Temsa reportedly in debt repayment difficulties with banks

Turkish coach, bus and light truck maker Temsa is having problems repaying its loan debts to the banks, Dunya business daily has reported. Company officials declined to comment. The newspaper ... more

Slovenia’s competition watchdog clears €444mn Abanka acquisition by NKBM

Slovenia’s second largest bank Nova KBM (NKBM) has received clearance from the Competition Protection Agency to acquire the local Abanka in a €444mn transaction, NKBM said on December 5. The ... more

Most Read

  1. Putin, Lukashenko fail to secure 'integration' deal amid anti-Russia protests in Belarus
    5 days ago
  2. The battle for the billions: Russia meets Ukraine in court in dispute over defaulted $3bn Eurobond
    4 days ago
  3. Poland is ready if Russia cuts gas transit to the EU across Ukraine this winter
    2 days ago
  4. What will Belarus gain from the proposed merger with Russia?
    2 days ago
  5. Putin and Zelenskiy make a positive start to the Donbas peace talks in Normandy Four talks, but put off the hardest problems
    4 days ago
  1. Ukraine on course to smash its 2019 grain harvest record, remain world’s biggest grain exporter
    1 month ago
  2. Russia to launch world's cheapest e-car Zetta in 2020
    18 days ago
  3. Norilsk Nickel target price upped by a quarter as climate crisis to send the cost of nickel and palladium soaring from 2020
    28 days ago
  4. Saxo Bank’s Outrageous Predictions 2020
    11 days ago
  5. Build build build: Russia’s national projects get underway
    23 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss