A state-owned stake of 99.9945% of the Ukrainian Bank for Reconstruction and Development (UBRD, Kyiv) has been sold at the starting price of 82.827 million UAH, Ukraine’s State Property Fund (SPF) has said.
The fund received a bid only from one buyer and the shares could be sold at the price proposed to the buyer, but no lower than the starting price.
The name of the buyer is not disclosed.
Earlier SPF Head Ihor Bilous said that investors from China and Iran showed their interest in the bank.
The UBRD was founded in 2004 to develop corporate, small and medium-sized businesses via crediting. Its owner was first the State Innovation Financial and Credit Agency, then the State Investment Company. In 2013, it was transferred to the Finance Ministry, and Mykola Azarov’s government planned to create a development bank on its basis.
The bank ranked 100th among 100 operating banks as of October 1, in terms of total assets worth 118.721 million UAH, according to the National Bank of Ukraine. (Interfax/Business World Magazine)
