Media “declassified” details of sales of Sberbank of Russia in Ukraine

The sale of Ukrainian subsidiary Bank Sberbank in the optimistic scenario can be closed in the period from late April to late may. This was reported by a source “Interfax” in the savings Bank of Russia.

“To expect that we will receive regulatory permission faster than within one month after submission, it is hardly realistic, therefore, we think that the deal will be closed in the period from late April to late may is our optimistic plans,” the source said.

According to him, in the conservative scenario is the sale of an asset can be completed in the first half of 2017, is the deadline previously outlined the savings Bank.

“Sberbank and buyers are in the process of preparing documents for the sale of Ukrainian “daughter” for the subsequent transfer of the necessary package of documents to the regulators of Ukraine and Latvia, the estimated transfer period – 1-2 weeks,” – said the Agency interlocutor.

He said that the plans of the parties should negotiate only in Ukraine three bodies: the national Bank, the Antimonopoly Committee and the securities Commission.

The source said that the Bank will not provide loans to Finance the purchase of the Ukrainian Bank.

“In General, we are opposed to such situations is to use a “scheme of Munchausen”, when man himself is pulling out hair. In this regard, the consortium buying shares of our Ukrainian Bank will use your money and not borrowed,” said the financier.

He explained that Sberbank understanding on the need to withdraw from the Ukrainian market emerged a year ago. Negotiations with investors by Gregory Guselnikov and Mikhail Gutseriev started a few months ago, the choice was made in favor of this group because of the willingness of business people to “act faster”.

The source also said that Sberbank plans to take advantage of the fact that the Central Bank allowed the Russian credit organizations to over provision the Ukrainian assets of 3 years.

The source said that the Ukrainian asset is now in a good financial situation. “The amount issued by the Ukrainian state and private companies of the loans is 1 billion 700 million dollars, about $ 600 million of commitments to private and corporate clients of the Bank”, – said the financier.

As reported, on Monday, Sberbank announced the sale of 100% shares of the Ukrainian subsidiary Bank to a consortium of investors, which will include the Latvian Norvik Banka (owned by businessman Grigory Guselnikov) and Belarusian private company, the relevant legally binding agreement has been signed. Later Norvik Banka announced that the main buyer of the Ukrainian subsidiary Bank Sberbank will be the son of the owner of the oil company “RussNeft” Mikhail Gutseriev said. Sberbank has announced that the deal will be closed in the first half of 2016.

While Sberbank in Ukraine will be known after the completion of the sales process – apparently, it will carry the name of Norvik Banka.

The newspaper “Kommersant” with reference to sources reported on Wednesday that the amount of the transaction could reach $ 130 million on October 1, 2016, the Ukrainian capital of Sberbank was equal to about $ 140 million.

Thus , the NBU has not yet received official notification from the prospective investors on purchase of Ukrainian “daughter” of Sberbank. The national Bank also has not received the relevant documents for the acquisition of substantial participation.