Belarus is interested in selling a minority package of shares in Belarusbank to a strategic investor from among Western banks. Prime Minister of Belarus Andrei Kobyakov made the statement in a recent interview with Reuters.
The Prime Minister said: “We are interested in the arrival of a strong strategic investor from among Western banks in the Belarusian banking system. Russian banks, banks from a number of other countries are well represented in Belarus. We believe we need a good investor from among Western banks in order to balance the situation to a certain degree.”
Belarus is already in negotiations with possible buyers of the package of Belarusbank shares, including a prominent Hungarian bank. “But it doesn't mean we've made up our minds. The work is only starting. We have the intention [to sell the package of shares] for now… A tender will be arranged and we expect we will get a strategic investor,” said Andrei Kobyakov. “I don't rule out the possibility that a Hungarian bank may be that investor.”
According to the Prime Minister, the Belarusian government has not set any specific timeframe for privatization, however, the sale is expected to go off within one or two years.
Source: BelTA