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Report: Chinese company eyes investment in Belarus-based Bank Moscow-Minsk

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Report: Chinese company eyes investment in Belarus-based Bank Moscow-Minsk

Chinese company DRex Food Group plans to acquire a stake in Belarusian state-controlled lender JSC Bank Moscow-Minsk, news agency BelTA reported June 12.

The Chinese investor is reportedly interested in acquiring all shares or a significant stake in the lender, DRex Food Group's head for Belarus, Zoya Kavaleva, said after talks with Belarus Agriculture Minister Leonid Zayats.

Belarusian authorities are in the process of preparing the privatization of Bank Moscow-Minsk with the help of the European Bank for Reconstruction & Development and intend to sell a controlling stake in the bank to a strategic investor by Jan. 1, 2020.