Over 10 banks interested in organizing privatization of Russian assets

Over ten financial organizations, including foreign banks, have shown interest in organizing the privatization of VTB, Bashneft and Alrosa, Deputy Minister of Economic Development Nikolay Podguzov said Tuesday.

Over ten financial organizations, including foreign banks, have shown interest in organizing the privatization of VTB, Bashneft and Alrosa, Deputy Minister of Economic Development Nikolay Podguzov said Tuesday.

"Around ten, more than ten [banks have shown interest]. I’m sure there are foreign banks among them," he said.

As was reported earlier Russia’s Ministry of Economic Development plans to nominate managing banks for privatization of the state-owned VTB, Bashneft and Alrosa early in April.

The ministry is now selecting banks to prepare the sales procedure for government stakes in VTB Bank, oil producer Bashneft, and diamond miner Alrosa. The timing and ways of making privatization deals will depend on deliverables of the bank nominated to manage the privatization, the ministry said.

First published by TASS.

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