DSK Buyer May Be Selected End-March Next Year. The end of March next year is a realistic deadline for selecting a buyer for the State Savings Bank DSK according to candidate consultants on the deal. This was announced by Neli Kordovska, Executive Direct

06.08.2002 Source: Novinite.com

DSK Buyer May Be Selected End-March Next Year. The end of March next year is a realistic deadline for selecting a buyer for the State Savings Bank DSK according to candidate consultants on the deal. This was announced by Neli Kordovska, Executive Director of the Bank Consolidation Company (BCC), the governmental body that manages the privatisation of state banks. On July 11 the Board of Directors of the BCC shortlisted five out of the twelve financial institutions, which submitted offers for consultant in DSK privatisation before June 17 deadline. These are ABN AMRO, JP Morgan, Schroeder Salomon Smith Barney, Daiwa Securities and Creditanstalt. At the end of last week the selected candidates presented their offers before BCC. A minimum 67 percent stake in DSK Bank is planned to be offered to strategic investors in a deal hoped to be completed by mid 2003. <