The Council approved the law on the privatization of state banks
The Verkhovna Rada approved in general draft law #11474 on the peculiarities of the privatization of state-owned banks.
People’s deputy Yaroslav Zheleznyak reported this.
260 People’s Deputies voted “for” the bill.
In particular, the rule allows the sale of any share of the state in the bank, not just 100% of the state’s shares.
Besides:
- expands the circle of potential investors whose sale the state is ready to consider;
- increases the requirements for legal entities that can be engaged by the state as financial sales advisors;
- includes international donors to participate in the selection procedure of financial advisers for the sale and the procedure of the sale itself;
- updates the rules on determining the price and conducting the auction in accordance with the recommendations of the World Bank;
- takes into account the probability that only one potential investor can participate in the auction;
- brings the requirements to the sales contract in line with market practices;
- prevents adverse influence on the sale process (such as a stop sale) by former beneficial owners or current minority shareholders.
We will remind:
The Committee of the Verkhovna Rada on Finance, Tax and Customs Policy recommended that the Parliament vote in the second reading for draft law No. 11474 on the specifics of the sale of state-owned shares in the authorized capital of banks.
