Privatization advisor for Komercijalna banka selected

In accordance with the provisions of the Agreement between the Shareholders of Komercijalna banka a.d. Beograd, the Ministry of Finance and the Deposit Insurance Agency have conducted the procedure of selecting the joint financial advisor who shall be tasked to organize and execute the sale of state-owned capital in Komercijalna banka, and also of the capital owned by the other signees of the Shareholders Agreement (EBRD, IFC, DEG, Swedfund).

After collecting Indications of Interest, and the subsequent receipt of Proposals, Nomura International plc (with headquarters in London, UK) has been selected as the best offeror.

Nomura International plc has provided the most attractive financial offer, and since they have also had the best rated technical offer, negotiations have been initiated in order to conclude an agreement with Nomura, which have been successfully completed by the end of July. The Agreement between the Republic of Serbia and Nomura has been signed on the 30th of July of 2015.

As a reminder, and pursuant to the duties included in the Shareholders Agreement, the procedure of the selection of the joint financial advisor has been commenced by the Ministry of Finance, acting on behalf of the Republic of Serbia, and the Deposit Insurance Agency by publishing a Public call for the delivery of Indications of Interest on the 28th of November of 2014.

The deadline for the delivery of Indications of Interest was the 30th December of 2014. Within the projected deadline, 22 Indications of Interest have been received.

The Selection Committee has made, based on the delivered Indications of Interest, a Short List of 9 candidates to whom Requests for Proposal have been sent.

The criteria for the Short List, also set out in the Public call, have focused on:

–

general qualification;

–

specific experience in the fields of preparation for privatization and bank privatization (through a tender sale to a strategic investor and a public offer on an international stock exchange);

–

qualification and competency of key personnel, and

–

experience in providing advisory services in successful bank privatizations in Central and East European countries.

After the expiration of the deadline for the delivery of Proposals, the Committee has acknowledged that 5 offerors have duly submitted their Proposals. Among those, Nomura International plc has been selected.