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Saturday, 20.04.2024, 12:27
Vilks: no reason to expect better price for Citadele
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He explained that bank prices in Europe are falling, as the region's banking sector is transforming and will continue to do so for the next couple of years, thus, there is no point in waiting for a better offer for Citadele.
According to Vilks, due to the said changes, there are no buyers even for banks in the growing markets.
He is certain that the state does not need to own banks, as they carry too great political risks.
As reported, on September 16 the government decided that Citadele shares would be sold to the U.S. fund Ripplewood Holdings. The deal was also approved by the European Bank for Reconstruction and Development. 25% of the bank's shares will be acquired by Ripplewood Holdings, 50% by currently undisclosed investors, and the EBRD will keep its 25% stake in Citadele.
The bank's resale terms are currently being discussed. The potential resale term could be set at two years, Prime Minister Laimdota Straujuma (Unity) said.
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