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Belarus preps sale of minority stake in Belarusbank

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Belarus preps sale of minority stake in Belarusbank

The Belarusiangovernment set up a working group to prepare the sale of a minority stake in statelender OAO Belarusbank.

The group,headed by Finance Minister Vladimir Amarin, will prepare an open tender to selecta financial consultant to advise on the transaction and approve a share sale plan.The group will have to make recommendations to the government on the choice of apotential buyer for the stake by Nov. 1, 2017.

head Pavel Kallaur said the size of the holding that Belarus will sell in the lenderwill most likely be below 25%, BelTA reported May 6, adding that no decision onthe size of the stake has been made as yet.

TarasNadolny, who serves as first deputy head of the central bank, said the potentialinvestor should be able to bring new technologies to the bank. It is possible thata European investor will be selected, but all submitted offers will be considered,the official reportedly said.