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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 13:46

Ripplewood Holdings wants to resell Citadele within one year

BC, Riga, 01.10.2014.Print version
Ripplewood Holdings would like resell the Citadele bank in up to one year, whereas the government wants to set the term at five years, Prime Minister Laimdota Straujuma (Unity) told the LNT channel this morning, informs LETA.

She said that the resale terms is one of the problems that are still being discussed.

 

Straujuma repeatedly stressed that she has no doubt about the reputation of the investors – "they are private individuals from the United States who are not hiding behind an offshore and will benefit from the bank's resale process."

 

Straujuma previously said that the total price of Citadele bank shares is EUR 98.67 million, thus 75% of Citadele shares held by the government would be sold for about EUR 74 million. Discussions on sale conditions are still in progress, she added.

 

The government has accepted Ripplewood Holdings offer which stipulates that 25% of the bank's shares will be acquired by Ripplewood Holdings, 50% by currently undisclosed investors, while the European Bank for Reconstruction and Development will keep its 25% stake in Citadele.






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