Central Bank of Russia Disclosed Details of the Sale of Shares in Sberbank to the Government
OREANDA-NEWS. The share of the Central Bank of Russia in Sberbank will be sold in stages. This was told a representative of the regulator to RBC news agency. The number of lots and the speed of the transaction will depend on the amount of savings of the National Wealth Fund (NWF).
On February 11, the Central Bank and the Ministry of Finance announced the upcoming sale to the government of 50 % plus one share of Sberbank, which are owned by the regulator. The bill defining the structure of the transaction has been developed and sent to the government.
It is assumed that a package of the Central Bank will be acquired at the expense of the NWF at market value. Reuters agency reported that the start of the transaction is scheduled for April.
The value of the regulator’s share in Sberbank may be about 2.8 trillion roubles (approximately 44 billion US dollars).