BAKU, Azerbaijan, Jan. 7
By Fakhri Vakilov - Trend:
Uzbekistan plans to sell a controlling stake in Asia Alliance Bank to the Japanese company Sawada Holdings by mid-2020, Trend reports citing Uzbek media.
The transaction value is estimated at $32 million. Negotiations with the Japanese side should start in January this year, by the end of April it is planned to prepare documents for the sale and close the deal in May 2020.
The private Asia Alliance Bank was founded on August 15, 2009. In October 2018, 45 percent of the shares of a commercial bank were transferred to the state. At the end of 2018, the bank became fully state-owned by conducting additional issues and attracting new shareholders represented by state institutions.
Sawada Holdings is a Japanese public finance corporation whose shares are listed on the JASDAQ Tokyo Stock Exchange. It was founded in 1958.
The company operates in the securities market, is engaged in banking, brokerage, insurance and tourism development. It has banking assets, is a controlling shareholder in Khan Bank, the largest bank in Mongolia, and a major shareholder in the Russian SOLID Bank.
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