Russia’s Sberbank CIB seeks to take part in VTB privatization

MOSCOW, Dec 6 (PRIME) -- Russian national top lender Sberbank plans to take part in all 2017 privatization, including the sale of VTB Bank, Andrei Shemetov, vice president of Sberbank’s investment arm Sberbank CIB, told reporters on Tuesday.

“We actively plan to participate in all privatization deals. As a business, we are ready to look at any deals and discuss them,” he said.

“It is clear that sanctions impose certain restrictions, it would be better without them and we could probably see more attractive prices.”

According to a budget draft, state coffers can receive 95.5 billion rubles from the sale of a 10.9% stake in VTB Bank in 2017.

Sberbank CIB acting CEO Igor Bulantsev said that the company is also preparing proposals for the government to privatize a 20% stake in Novorossiysk Commercial Sea Port (NCSP).

The Economic Development Ministry earlier started choosing investment consultants for the deal.

(63.9242 rubles – U.S. $1)

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