- Joined
- May 15, 2016
- Messages
- 10,422
- Likes
- 2,620
- Points
- 1,730
Sberbank will change its owner. The government intends to buy back a share owned by the Central Bank (50 percent plus one share), using the funds of the National Wealth Fund (NWF) at a market price, the Finance Ministry said.
A document defining the procedure and conditions for the sale of shares has already been sent to the government. According to him, the Bank of Russia will make an obligatory offer to minority shareholders of Sberbank to buy back shares at a time when selling the first part of the package at a price similar to the selling price.
A change in the controlling shareholder of the country's largest bank will not affect state guarantees on Russian deposits, said Finance Minister Anton Siluanov. He added that the redemption of a share of Sberbank at the expense of the NWF does not cancel plans for investing its funds in infrastructure projects, writes RBC's Grigory Berezkin.
The government will be able to use the funds of the fund after the volume of its liquid part exceeds 7 percent of GDP. As of February 1, 2020, its liquid part amounted to 6.197 trillion rubles, or 5.5 percent of GDP, projected for 2020. It is expected that the liquid part of the NWF will reach 7 percent in 2020.
A document defining the procedure and conditions for the sale of shares has already been sent to the government. According to him, the Bank of Russia will make an obligatory offer to minority shareholders of Sberbank to buy back shares at a time when selling the first part of the package at a price similar to the selling price.
A change in the controlling shareholder of the country's largest bank will not affect state guarantees on Russian deposits, said Finance Minister Anton Siluanov. He added that the redemption of a share of Sberbank at the expense of the NWF does not cancel plans for investing its funds in infrastructure projects, writes RBC's Grigory Berezkin.
The government will be able to use the funds of the fund after the volume of its liquid part exceeds 7 percent of GDP. As of February 1, 2020, its liquid part amounted to 6.197 trillion rubles, or 5.5 percent of GDP, projected for 2020. It is expected that the liquid part of the NWF will reach 7 percent in 2020.