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Deadline extended for submitting binding offers for Citadele bank

BC, Riga, 20.08.2014.Print version
The government of Latvia yesterday agreed to extend the deadline for submitting the binding offers for Citadele Bank, Prime Minister Laimdota Straujuma (Unity) told the press representatives after the government meeting, informs LETA.

The deadline has been extended ten days – from August 25 to September 5.

 

"I believe that ten days is an adequate term, as we are following the European Commission's schedule," Straujuma said.

 

The government is to review the matter of Citadele bank sale in mid-September, after which further decisions will be made.

 

As reported, at the end of this past July, the government decided during a closed meeting to offer the U.S. fund Ripplewood Holdings an exclusive opportunity to analyze for a period of one month buying Citadele for EUR 113 million. This is the smallest amount at which the government can sell the bank without incurring losses for the state, the Latvian State Television's broadcast "Panorama" reported.

 

Economy Minister Vjaceslavs Dombrovskis (Reform Party) admitted that the government had considered selling Citadele during the closed meeting, but declined to comment on what exactly had been decided during the government's meeting.






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