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Ministry of Finance hands over PrivatBank to Cabinet of Ministers

According to the media, this measure was taken in order to prevent the potential return of Kolomoysky's shares
10:32, 28 November 2019

Open source

The Ministry of Finance transferred JSC CB "PrivatBank" into the ownership of the Cabinet of Ministers of Ukraine. This is evidenced by information posted on the National Bank's website.

At present, 100% of PrivatBank's shares are owned by the state, which is represented by the Cabinet of Ministers, while at the beginning of the year ownership was vested in the Ministry of Finance.

Financial Club links the change in the owner of PrivatBank to the fact that Igor Kolomoysky appeals the PrivatBank's Share Sale and Purchase Agreement between Deposit Guarantee Fund and the Ministry of Finance in the Ukrainian courts.

Related: Would Ukraine's oligarch Kolomoysky get his PrivatBank back?

If the Ministry loses, it must return the oligarch's shares. But after the transfer of the government's shares, the Ministry of Finance no longer has access to them.

As we reported earlier, Rudy Giuliani, the lawyer of US leader Donald Trump was offered to join the civilian process against Ihor Kolomoysky, the oligarch and former owner of Ukraine's Privatbank, Bloomberg informed about that.

The group of lawyers of Privatbank turned for assistance to Giuliani and tried to find out the information regarding Kolomoysky.

Related: Zelensky signs law on cancellation of list of enterprises forbidden to privatize

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