Fourteen companies respond to the ad for financial adviser for the sale of Komercijalna Banka, selection to be made by the end of the year

Fourteen companies have responded to the ad placed by state for the financial adviser for the sale of the state's share in Komercijalna Banka, eKapija learns at the Ministry of Finance.

The deadline for the submission of letters of interest expired on November 12, and as they told our portal, the shortlisted companies will be sent requests for the submission of bids in the upcoming days.

– The adviser should be selected and the agreement on consulting services should be signed by the end of the year – the ministry says and adds that the public call for privatization should be placed by the end of June and that the transactions should be closed by the end of 2019.

The call for the financial adviser was sent by the Ministry of Finance in mid-October to the leading international companies, which, as said, have considerable experience in the privatization of banks and have teams of experienced experts.

The state has a share of 41.74% in Komercijalna Banka, 24.43% belongs to the European Bank for Reconstruction and Development (EBRD), IFC has 10.15%, Germany's DEG fund owns 4.6%, and Sweden's Svedfond has a 2.3% share.

The plans for the sale of Komercijalna Banka became a viable topic back in 2006, following the first capital increase by the EBRD, and the investment company Nomura International was chosen as the privatization adviser of Komercijalna Banka at a tender three years ago.

B. Petrovic

NLB Komercijalna banka AD Beograd

Ministarstvo finansija Republike Srbije

EBRD Evropska banka za obnovu i razvoj Beograd

IFC

sale of state share in Komercijalna Banka

Komercijalna Banka ownership structure

EBRD

IFC

DEG

Svedfond

Nomura International