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Presidential Administration: The final goal is selling of government share in IBA completely

Presidential Administration: The final goal is selling of government share in IBA completely

06 October 2011 12:36 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. The position of government on privatization of government share in authorized capital of International Bank of Azerbaijan (50.2%) consists of selling of share package, said the Head of the Economic Policy Division of Presidential Administration Mail Rahimov.

According to him, the works is underway with consultants operating on financial consulting services within the privatization of bank.

He also noted that, after privatization, IBAâ€™s capital had to be increased.

Note that, the consortium consisting of Â«PricewaterhouseCoopers Audit AzerbaijanÂ» MMC, Â«Rothschild & CIEÂ» company and branch of Â«Salans UK Ltd.Â» in Azerbaijan was selected winner of tender on selection of adviser for drafting of proposals about privatization of government share in the authorized capital of the bank.

Remind that, IBA has been in operation since 1992.

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