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State-owned share in Belarusian Priorbank evaluated at €17m

Andrei Gayev. An archive photo

MINSK, 9 April (BelTA) – Belarus evaluates the state-owned share in Priorbank at €17 million, BelTA learned from Chairman of the State Property Committee of Belarus Andrei Gayev on 9 April.

According to the source, there are no differences of opinion about the sum with the European Bank for Reconstruction and Development, which shows interest in buying the state-owned stock. “There are no problems with the evaluation. We enjoy full understanding because all the assessment actions showed an objective value and raise no doubts,” Andrei Gayev noted.

The government is now consolidating the state-owned package of Priorbank stock and transferring it to the State Property Committee. It has to be done by 20 April.

“The head of state will have to make the final decision on what to do with this package. The European Bank for Reconstruction and Development shows interest in acquisition. This is why the first stage – package merging – is nearing completion,” the official explained.

At present Raiffeisen CIS Region Holding GmbH owns 87.74% of Priorbank’s charter capital. The European Bank for Reconstruction and Development has been buying Priorbank’s stock since 1998 in order to resell it to Raiffeisen. The EBRD did not rule out the possibility of reselling the state-owned share to the principal shareholder if the bank had managed to acquire it.

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