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Raiffeisen Bank not going to participate in privatization of Russian companies

March 16, 13:02 UTC+3 VIENNA
Acquiring shares in enterprises does not interest Raiffeisen
1 pages in this article
© EPA/FEHIM DEMIR

VIENNA, March 16. /TASS/. Raiffeisen Bank International AG does not plan to participate in privatization of Russian assets, Raiffeisen Bank International AG CEO Karl Sevelda told TASS Wednesday.

"We are going to participate in it in the sense that we will help businesses with financing, but acquiring shares in enterprises does not interest us," he said.

Tuesday, March 15, a source in banking circles told TASS that rhe Russian Economic Development Ministry has sent proposals to participate in privatization to 22 investment banks, including American banks - JP Morgan, Citi Group, Goldman Sachs.

The proposal was allegedly sent to Credit Suisse, Deutsche Bank, Merryll Lynch, Morgan Stanley, Barclays, BNP Paribas, RBS, UBS, Raiffeisen, UniCredit, SG Corporate.

The offer was sent to banks in accordance with the Government Decree from October 25, 2010. The banks need to state their interest in participation before March 21, after that the selection procedure continues.

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