Four offers submitted to privatize Serbia’s Komercijalna Bank

Four offers submitted to privatize Serbia’s Komercijalna Bank

Four offers submitted to privatize Serbia’s Komercijalna Bank Izvor: N1

Four banks and investment funds operating in Serbia have submitted non-binding offers to buy shares in the Komercijalna Bank from the Serbian government, Finance Minister Sinisa Mali said on Tuesday.

The Serbian government now owns a majority of the shares in the bank after having bought shares from the European Bank for Reconstruction and Development (EBRD) and the International Financial Corporation (IFC) late last week. The EBRD and IFC sold the government just under 35 percent of the shares in Komercijalna Banka AD Beograd. The governmetn now owns just over 83 percent of the shares.  

Mali told a news conference that six banks and financial institutions had expressed interest in buying Komercijalna Banka Belgrade but that only four offers were submitted.  

The offers were opened on Tuesday by a Finane Ministry tender commission which concluded that all four met the conditions of the first stage of the tender, a ministry press release said, adding that the commission will rule on whether they meet the conditions for the next stages over the next few days.  

Under the tender rules, binding offers will be submitted in mid-November.

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