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Report: UBS, Credit Suisse show interest in advising on Russian privatizations

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Report: UBS, Credit Suisse show interest in advising on Russian privatizations

UBS GroupAG and Credit SuisseGroup AG are among banks that have responded to the Russiangovernment's request for proposals for advisory roles in the planned partprivatizations ofseveral state-owned companies, Reuters reported March 29, citing "threebanking sources."

The Russian Economy Ministry is seeking advisers for theplanned sales of a 10.9% stake in both PAO VTB Bank and diamond miner , as well as a 50.08% stakein oil firm Bashneft.

A senior Western banker said that both Swiss lenders haveexpressed interest in advising the government as long as no on over the conflict in Ukraine arebroken. UniCredit SpAhas also responded to Russia's request, a fourth banking source told Reuters.

Other European banks invited to submit proposals includeDeutsche Bank AG,Barclays Plc,Royal Bank of Scotland GroupPlc, BNP ParibasSA, Société GénéraleSA and RaiffeisenBank International AG.

U.S. banks Goldman Sachs Group Inc., , Bank ofAmerica Merrill Lynch, CitigroupInc. and MorganStanley received requests, however, no U.S. bank responded, thesources said.

PAO Sberbankof Russia, VTB, Vnesheconombank,AO Gazprombank,PJSC ALFA-BANK andPAO MDM Bank are someRussian banks that received requests, Reuters noted.

Russian Economic Development Minister Alexei Ulyukayev reportedly said inthe week of March 21 that the government is looking for three banks to lead theprivatization process, with one or two others helping to run the transactions.The minister said Western banks had responded to the requests, but did notprovide any names.