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Serbia moves towards privatisation of Komercijalna Banka

(ANSA) - BELGRADE, 16 OTT - The Serbian ministry of Finance has published on Monday a call for a financial adviser for the sell of the government owned stake of Komercijalna Banka, the second largest bank in the country. In a statement posted on its official website, the ministry said that eligible advisory firms should have an extensive experience in banks' privatisation and they have time until November 12 to express their interest. The advisor will have to deliver the best possible strategy and methods for selling the shares of Komercijalna Banka owned by the State after an analysis of market opportunities, different models of privatisation and competition on the market. According to the consolidated financial statement from December 2017, the Serbian government controls 41.7% of the capital of the bank, while the European Bank for Reconstruction and Development (EBRD) controls 24.4%. At the beginning of the year, the government announced that the Serbian government said it plans to complete the sale of Komercijalna Banka by the end of September 2019, while the tender is expected to be launched by end-June 2019, the specialized portal SeeNews clarified. (ANSA).