March 10, 2020 / 8:40 AM / 22 days ago

Russian says it may sell Sberbank stake without minority buyout

MOSCOW, March 10 (Reuters) - Russia’s central bank has found a way to sell its stake in Sberbank, the country’s largest lender, without buying out its minority shareholders, first deputy governor Sergei Shvetsov said on Tuesday.

“Given the difficult situation on the market, we have found a formula that should suit minority shareholders without making such a (buyout) offer,” Shvetsov said.

The Russian government said last month that it would tap its National Wealth Fund (NWF) to buy the central bank’s stake in Sberbank, ending years of debate about potential conflicts of interest arising from the central bank controlling the country’s top lender. (Reporting by Daria Korsunskaya; Writing by Gabrielle Tétrault-Farber; Editing by Maria Kiselyova)

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