Cbank finds formula to sell Sberbank to govt without buyout offer

MOSCOW, Mar 10 (PRIME) -- The central bank has found a formula to sell the shares of Sberbank to the government without presenting a buyout order to åðó minority shareholders, First Deputy Chairman Sergei Shvetsov said at a meeting of the budget committee of the State Duma, parliament’s lower chamber, on Tuesday.

“Presuming a tough situation, we have found a formula which might suit the minority shareholders without presentation of an offer,” Shvetsov said.

He added that the formula will be discussed in the second half of the day.

The central bank owns a 52.32% stake of common shares of Sberbank, which translates into a 50% plus one share stake in the charter capital. The government plans to acquire the stake at market price, the price estimate is about 2.5 trillion rubles.

(67.5175 – U.S. $1)

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