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Pietiek: price of Citadele shares could be EUR 74 mln
BC, Riga, 26.09.2014.
Print version
Print versionThe government could sell its Citadele bank shares for EUR 74 million, according to a copy of the U.S. fund Ripplewood Holdings offer posted on portal Pietiek.com, reports LETA/Nozare.lv.
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The offer indicates that the investor estimates the value of 100% of the bank's shares at EUR 98.67 million, and the 75% stake owned by the state in this case would cost EUR 74 million.
The document also indicates that the investor can increase this price by EUR 25 million in case the bank's equity exceeds the initial business plan by the end of the year.
Prime Minister Laimdota Straujuma previously told the Latvian Television show "Rita panorama" that Citadele bank will be sold to Ripplewood Holdings for a much higher price than the price named by the financial consultant for the deal.
She did not reveal the amount, adding that the consultant's initial forecast was EUR 64 million, whereas the actual amount is going to be higher.
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