Notices of intent to buy Asian-Pacific Bank’s equity considered

The Bank of Russia has received four notices from parties concerned of their intent to take part in the sale of the equity of PJSC Asian-Pacific Bank (hereinafter, the Bank) and to acquire 100% of the Bank’s shares.

However, a number of potential buyers have doubted that it would be reasonable to purchase the Bank’s shares at the moment since it is impossible now to estimate how the COVID-19 pandemic may affect the Bank.

Given that the parties concerned lack confidence due to the COVID-19 pandemic and in order to expand the range of bidders and achieve an adequate price for the equity to be sold, the Bank of Russia has postponed the procedure for selling the Bank’s shares until 2021–2022. This decision implies that all pre-sale procedures will be carried out anew. Thus, all parties concerned will be able to estimate more accurately the Bank’s performance in the new environment and its future development prospects.

Specific dates for selling the Bank’s shares and conducting mandatory pre-sale procedures will be set and announced after the complete assessment of the Bank’s 2020 performance and the stabilisation of the situation.

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