Serbia gets four non-binding bids for Komercijalna Banka

By bne IntelliNews September 10, 2019

Serbia has received four non-binding offers for the privatisation of the country's second-largest bank, Komercijalna banka, the finance ministry said on September 10.

The government wants to offer its whole stake in Komercijalna Banka, which was increased to 83.23% earlier in September after it has acquired the shares of the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation’s (IFC's) Capitalisation Fund.

“The tender committee has noted that four offers have arrived within the deadline defined in the tender documentation. The offers were opened, and it was noted they were complete, respectively they contain the elements defined by the tender documentation for the first phase,” the finance ministry said in the statement.

In the next few days, the tender committee should rule which of the bidders can qualify for the next phase of the tender. The ministry did not elaborate on who the candidates were.

Raiffeisenbank, Slovenia’s Nova Ljubljanska Banka (NLB), AIK Banka of Serbian businessman Miodrag Kostic, and a US-European consortium comprising Ripplewood Advisors, Serbia’s Direktna Banka and Greece’s Eurobank have expressed interest in bidding for Komercijalna Banka.

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

Related Articles

Russia, Turkey sign deal to use own currencies in payments and settlements

Russian Finance Minister Anton Siluanov has inked an agreement with Turkey on using national currencies in payments and settlements between the two countries, the Russian finance ministry said on ... more

UK “resorting to all kinds of tricks” not to pay £400mn owed for undelivered tanks says Iranian envoy

Iran’s ambassador to London has criticised the UK for “resorting to all kinds of tricks” in order to not pay a debt for Chieftain battle tanks that were ordered by the last Iranian shah ... more

Moldova’s central bank suspends rights of consortium that owns 10% of Energbank

The foreign consortium that took over electricity supply and distribution businesses in Moldova from Naturgy over the summer has been notified by the central bank to sell the 10% stake it holds in ... more