Deal on Sale of State Share in Azerbaijani Kapital Bank to Juridical Entities and Individuals Signed
Azerbaijan, Baku, 20 May / Trend corr. I.Khalilova / The State Committee on State Property Management of Azerbaijan has signed a deal on sale of the state share in the capital of the Kapital Bank OJSC to individuals and juridical entities, the State Committee reported on 20 May.
Under the Presidential order from 19 October 2007 on sale of the remained 50% of the state share, 85% of shares were exhibited for sale to juridical entities and 10% to individuals.
Although the deals have already been signed with the auction winners, the State Committee refuses to announce the information about the share holding transferred to the new bank shareholders. The share holding for juridical entities were acquainted by AtaHolding, Xalq Bank and Azersun Holding, which became the shareholders of Kapital Bank as a result of the first stage of privatization. So, AtaHolding and Xalq Bank have already own 20% of shares of the bank each and 10% belongs to Azersun Holding.
Rufat Aslanli, Deputy Chairman of the National Bank of Azerbaijan (NBA), stated on 18 May that NBA gave permission to acquire a significant share in the bank for investors. The planned deals would be signed by the end of June, Aslanli said.
The sale of the rest 5% of bank shares is being implemented currently to labour collective.
There will be held a meeting of the operation participants to approve the results of sale on 30 may.
As for 1 January 2008, the Kapital Bank assets were AZN 249.466. The bank's liabilities comprised AZN 209,555. About 2,458 are working in the bank.
The current currency rate as for 20 May is 0.8262 AZN/USD.
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