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The nationalized PrivatBank intends in May to sign off a contract with the consortium of international companies, led by Rothschild&Co, on the negotiations with regard to restructuring the loans of the bank's former owners, according to PrivatBank's press service, referring to the relevant decision of its supervisory board providing for involvement of Rothschild, Ernst and Young, and FinPoint.
The bank recalled that the Ukraine-IMF Memorandum on Economic and Financial Policies stipulated the obligation of the Ukrainian government to appoint the internationally recognized company for loan restructuring talks until the end of April 2017.
Read alsoErnst & Young not confirming PrivatBank's losses – journalistAs UNIAN reported earlier, on December 18, 2016, the Cabinet decided to nationalize Ukraine's No. 1 bank, Dnipro-based PrivatBank, being guided by the recommendations of the National Security and Defense Council.
To this end, it issued government bonds worth UAH 117 billion, or $4.3 million, while the NBU purchased the bonds totaling UAH 25.8 billion, or $959 million, at the end of December 2016, and more bonds worth UAH 1.4 billion, or $52 million, in January this year.