November 27 (SeeNews) - Serbia's government has received letters of interest from 14 companies wishing to participate in a tender for delivery of financial advisory services in the privatisation of Komercijalna Banka [BEL:KMBN], finance minister Sinisa Mali said.
The government plans to make a shortlist of candidates and invite them to place bids in the tender soon, Mali said in a press release on Monday.
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The tender for privatisation of Komercijalna Banka is expected to be launched by the end of June 2019, Mali said.
Serbia's government plans to complete the sale of Komercijalna Banka by the end of September 2019, it said earlier this year.
In October, the finance ministry invited international companies to submit letters of interest for the delivery of financial advisory services in the privatisation of Komercijalna Banka. The Serbian government plans to sell its entire shareholding interest in Komercijalna.
The government owns 41.74% of the capital of Komercijalna Banka, while the European Bank for Reconstruction and Development controls a 24.43% shareholding interest. The IFC Capitalization Fund holds a 10.15% stake and the remainder is in the hands of private investors, according to data from the interim financial statement of Komercijalna Banka for the first half of 2018.