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Ukrainian govt to decide future of PrivatBank's 46% stake in Latvia's PrivatBank - Chairman

Ukrainian govt to decide future of PrivatBank's 46% stake in Latvia's PrivatBank - ChairmanPrivatBank (Donetsk) remains the owner of 46% of shares in Latvia's PrivatBank. The Finance Ministry and the Ukrainian government will decide the future of this stake, PrivatBank Board Chairman Oleksandr Shlapak said at a press conference at Interfax-Ukraine in Kyiv on Thursday.

"We are in state ownership. This [the 46% stake] is also in state ownership. The government and our owner – Finance Ministry, not us, will decide the future of our stake," he said.

As reported, according to a financial report of Latvia's PrivatBank published in April 2016, the share of Ukraine's PrivatBank in its charter capital after the additional issue of shares worth of EUR 6 million (to EUR 86.35 million) decreased to 46.54% from 50.02% of the share capital. Then PrivatBank was ninth among all Latvian banks in terms of capital and reserves.

Ex-shareholders of PrivatBank Hennadiy Boholiubov and Ihor Kolomoisky belonged 9% of shares in the Latvian bank each early 2016. Concorde (Bermuda) Limited held 8.5%, Cyprus-based Unimain Holdings Limited and Wadless Holdings Limited – 5.68% and 4.86%.
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