Банкеръ Weekly

Briefs

ZEMEDELIE FUND TO SELL ITS SHARES IN CCB

Raiffeisenbank (Bulgaria), International Commercial Bank, First Investment Bank and Istrocapital Slovak fund owning 85.35% of the Bulgarian Eurobank, are interested in purchasing the Zemedelie Fund shares in the Central Cooperative Bank (CCB). Till the end of the year Zemedelie Fund, owning 32.76% of CCB, should sell its shares. That was announced by Ventsislav Varbanov, Minister of Agriculture and Forestry, on November 15, after his meeting with Andrew Voorking, the World Bank Director for Bulgaria and Romania. The main topics of the discussion were the terms and conditions of the ASAL-2 loan, on which Bulgaria will be launched USD50MN by the WB. The amount should in general support the country's balance of payment, but it's launch depends on specific committments, one of them being Zemedelie Fund to sell its shares in CCB.

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