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EBRD eager to buy out state share in Belarusian Priorbank in Q1 2019

Economy 10.01.2019 | 13:49
Alexander Pivovarsky. An archive photo
Alexander Pivovarsky. An archive photo

MINSK, 10 January (BelTA) – The European Bank for Reconstruction and Development (EBRD) intends to buy out the state share in Priorbank in Q1 2019, BelTA learned from the head of the EBRD representative office in Belarus Alexander Pivovarsky.

Alexander Pivovarsky said: “A session of the EBRD Board of Directors will be convened soon to discuss the matter. I hope we will finish the deal by the end of the first quarter.”

It will be a portfolio investment for the European Bank for Reconstruction and Development. The main shareholder – Raiffeisen – may buy this package from the EBRD in the future. When it may happen has not been discussed yet.

At present Raiffeisen CIS Region Holding GmbH owns 87.74% of Priorbank's charter capital. The State Property Committee owns 4.61%. As much as 1.28% of the charter capital belongs to OAO MAZ, the managing company of the holding company BelavtoMAZ. The rest is owned by other corporations and individuals.

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