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Weekly Lists
June 9, 2017 www.intellinews.com I Page 27
bne:Banker RBI suspends
preparations for IPO of Polish unit
Raiffeisen Bank International (RBI) has suspended preparations for an initial public offering (IPO) of its Polish unit Raiffeisen Polbank, the Austrian banking group confirmed on June 7.
Polish financial market regulator KNF announced early on June 7 that it has stopped working on the project after a request from Vienna. Neither the watchdog nor the bank would discuss the reason for the move. However, with RBI under a deadline to float a 15% stake by the end of June, it seems likely that the bank is seeking an agreement from KNF to postpone the sale amidst valuation concerns, or even that it could seek to revive talks to sell, which would release it from its commitment to float the unit. Johann Strobl, RBI's CEO, was reported to have recently travelled to Warsaw to negotiate delaying the sale.
KNF announced that it has suspended work on the IPO prospectus, which was submitted by RBI in April, but a spokesman reiterated to PAP, however, that June 30 stands as a deadline.
Expobank, a Czech bank whose majority shareholder is Russian investor Igor Kim, and investment fund Argo Capital Management in partnership with Duet Private Eqyuity are reportedly competing to buy Marfin Bank Romania, Ziarul Financiar reported on June 7 quoting unnamed market source.
Marfin Bank Romania is a small lender with €450mn assets that held 0.6% of the market share at the end of 2015. Last year, the Bank of Beirut’s attempt to take over the bank failed, Ziarul Finan- ciar reports.
Earlier this year, Profit.ro claimed that six letters of intention have reportedly been filed for the acquisition of Marfin Bank Romania.
An in-absentia trial of Kazakh fugitive banker Mukhtar Ablyazov sentenced him on June 7 to 20 years in prison for crimes includ- ing the theft of pension assets and savings.
Ablyazov is a former head of BTA Bank. Kazakh sovereign wealth fund Samruk-Kazyna took over BTA Bank in 2009 and subse- quently accused Ablyazov and his subordinates of siphoning off $5bn from the lender. On 7 June, an Almaty court convicted him of abusing office, organising and leading a criminal group, financial mismanagement and embezzlement. Ablyazov reportedly called the trial a farce.
Expobank and Argo Capital Management reportedly in race to buy Marfin Bank Romania
Fugitive banker Ablyazov given 20 years by Almaty court in-absentia trial