Tags: russia | asset | sale | bank | banking

Russia Adds 13 Banks to Advise on $59 Billion Asset Sale Plan

Sunday, 26 Dec 2010 01:58 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Russia has expanded the list of investment banks that will advise it on its planned $59 billion state asset sale program over the next five years.

The government had previously selected 10 banks, including Morgan Stanley, Credit Suisse Group AG, Renaissance Capital and VTB Capital in October for its asset sales starting next year. It added 13 more lenders to the list, according to a Dec. 20 decree posted on its website.

Moscow-based OAO Sberbank, the country’s biggest lender, Alfa Bank, the largest private lender, and Troika Dialog, Russia’s oldest investment bank, are among those added along with BNP Paribas SA, Citigroup Inc., Royal Bank of Scotland Plc. and UBS AG, according to the decree.

Russia plans to sell as much as 15 percent of OAO Rosneft, its biggest oil producer, and stakes in its two biggest banks, Sberbank and VTB Group, as the government seeks to raise 1.8 trillion rubles ($59 billion) in asset sales over five years to help balance the budget.

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved