BCC TO PICK UP A CONSULTANT FOR THE PRIVATISATION OF DSK BANK
After the Easter holidays the Bank Consolidation Company (BCC) will invite a tender to pick up a consultant for the privatisation of DSK Bank. During the inofficial talks with foreign investors it became clear that the credit institution could be successfully sold within nine months.BCC's Executive Director Nelly Kordovska explained that invitations for participation in the tender for a consultant would be sent to all big investment banks. They will be admitted to the competition if they send a reply within two weeks after receiving the invitation. Interest to the future tender has been showed so far by some of the top investment banks in the world. Among them are: J.P. Morgan, HSBC, BNP-Paribas, Daiwa Securities, ABN AMRO, Credit Suisse First Boston and Creditanstalt Investment Bank.Ms. Kordovska informed the BANKER weekly that on April 23 the BCC launched negotiations with the European Bank for Reconstruction and Development (EBRD), which is willing to acquire between 10% and 15% of DSK Bank's capital after its increase. EBRD's team, headed by Maria Chikonya, promised that after the Easter holidays it would acquaint the BCC in more detail with its intention for share participation in DSK Bank. By mid-May the EBRD is expected to begin a thorough investigation into DSK Bank's legal and financial state, as the offer to the BCC for the purchase of a package of shares in DSK Bank should be filed by June 30.