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Sorainen Advises the IFC on Sale of Remaining Belarusky Narodny Bank Shares

Sorainen Advises the IFC on Sale of Remaining Belarusky Narodny Bank Shares

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Sorainen Belarus has advised the International Finance Corporation on the sale of its remaining 4.99% stake in Belarusky Narodny Bank in two deals on December 28, 2017, worth a total of more than USD 2 million, concluded at the Belorussian Currency Stock Exchange under the consent of the National Bank of the Republic of Belarus.

The share capital of Belarusky Narodny Bank was formed in the amount of BYN 11,075,158,416. The IFC acquired a 19.99% stake in BNB-Bank in 2010, and in 2017 sold 10% to Bank of Georgia and 5% to Bank of Georgia subsidiary Benderlock Investments Limited, allowing them to directly and indirectly control almost 95% of the voting power over BNB-Bank (as reported in CEE Legal Matters on April 6, 2017).

Sorainen advised the IFC on its 2010 acquisition and on its 2017 sale as well. The firm's team in the sale of the remaining 4.99% stake consisted of Partner Kiryl Apanasevich and Senior Associate Viktoryia Mikhnevich.

Sorainen did not reply to an inquiry about the identity of or counsel for the buyers.

 

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