The Cabinet of Ministers approved the procedure for engaging an advisor for the sale of stakes in state-owned Ukrgasbank and Sense Bank.
This is announced in a statement by the Ministry of Finance, Ukrainian News Agency reports.
On October 29, the Cabinet of Ministers adopted a relevant resolution.
The approved procedure determines the mechanism and criteria for the competitive selection of an advisor, his tasks and powers.
In particular, the advisor will prepare proposals and recommendations on the procedure for conducting the competition, evaluating participants, methods of selling shares, increasing their value, and other issues related to preparing for the privatization of state-owned banks.
It is noted that the involvement of a professional advisor will create conditions for the transparent sale of stakes in state-owned banks, will contribute to reducing the state's share in the banking sector, attracting funds to the state budget, and strengthening competition in the financial market.
As Ukrainian News Agency earlier reported, the government recently decided to begin preparations for the sale of state-owned stakes in the authorized capital of JSC Sense Bank and JSB Ukrgasbank, in order to reduce the share of state ownership in the banking sector and raise funds from the sale to the state budget. Reducing the state's share in the banking sector is one of the eight priority operational goals of the Ministry of Finance of the Government's Action Program.
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