RIGA — It appears that Latvia’s nationalized Parex Bank will also put up its Russian and Ukrainian leasing units up for sale as the bank’s restructuring plan, approved Wednesday by the government, stipulates that the bank will pull out of the CIS.

Its previous sale of its Belarus leasing unit to Rietumu Bank, for a mere $100, has been revealed as part of this larger salary.

Meanwhile Parex’s privatization process continues to [private_supervisor]move forward after the government took it over in late 2008, prompting an IMF-EU bailout of the government.

Latvia’s government has decided to split Parex Bank, the troubled financial institution it nationalized late in 2008, into two parts in order to improve chances for a privatization.

With the decision, which was unanimous, the government essentially approved the proposal put forward by Nomura International to create two banks, one in which the best assets would be placed, and another that would have non-core assets and liabilities.

About two-thirds, or 1.5 billion lats (€1.1 billion), of Parex’s current assets will be transferred to the new bank, which ostensibly will have a new name. This scheme, which must be approved by the European Commission, will hopefully provide the necessary clarity and attractiveness to sell the restructured bank to a strategic foreign investor, something the government wishes to do as quickly as possible.

— Baltic Reports reporter James Dahl contributed to this article. [/private_supervisor] [private_subscription 1 month]move forward after the government took it over in late 2008, prompting an IMF-EU bailout of the government.

Latvia’s government has decided to split Parex Bank, the troubled financial institution it nationalized late in 2008, into two parts in order to improve chances for a privatization.

With the decision, which was unanimous, the government essentially approved the proposal put forward by Nomura International to create two banks, one in which the best assets would be placed, and another that would have non-core assets and liabilities.

About two-thirds, or 1.5 billion lats (€1.1 billion), of Parex’s current assets will be transferred to the new bank, which ostensibly will have a new name. This scheme, which must be approved by the European Commission, will hopefully provide the necessary clarity and attractiveness to sell the restructured bank to a strategic foreign investor, something the government wishes to do as quickly as possible.

— Baltic Reports reporter James Dahl contributed to this article. [/private_subscription 1 month] [private_subscription 4 months]move forward after the government took it over in late 2008, prompting an IMF-EU bailout of the government.

Latvia’s government has decided to split Parex Bank, the troubled financial institution it nationalized late in 2008, into two parts in order to improve chances for a privatization.

With the decision, which was unanimous, the government essentially approved the proposal put forward by Nomura International to create two banks, one in which the best assets would be placed, and another that would have non-core assets and liabilities.

About two-thirds, or 1.5 billion lats (€1.1 billion), of Parex’s current assets will be transferred to the new bank, which ostensibly will have a new name. This scheme, which must be approved by the European Commission, will hopefully provide the necessary clarity and attractiveness to sell the restructured bank to a strategic foreign investor, something the government wishes to do as quickly as possible.

— Baltic Reports reporter James Dahl contributed to this article. [/private_subscription 4 months] [private_subscription 1 year]move forward after the government took it over in late 2008, prompting an IMF-EU bailout of the government.

Latvia’s government has decided to split Parex Bank, the troubled financial institution it nationalized late in 2008, into two parts in order to improve chances for a privatization.

With the decision, which was unanimous, the government essentially approved the proposal put forward by Nomura International to create two banks, one in which the best assets would be placed, and another that would have non-core assets and liabilities.

About two-thirds, or 1.5 billion lats (€1.1 billion), of Parex’s current assets will be transferred to the new bank, which ostensibly will have a new name. This scheme, which must be approved by the European Commission, will hopefully provide the necessary clarity and attractiveness to sell the restructured bank to a strategic foreign investor, something the government wishes to do as quickly as possible.

— Baltic Reports reporter James Dahl contributed to this article. [/private_subscription 1 year]

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