Swiss banks express interest in advising on Bashneft privatisation

BashneftBashneft privatisation: Swiss banks UBS and Credit Suisse are interested in advising the Russian government on several privatisations as long as the deals do not violate sanctions, three banking sources told Reuters  this week. Their interest came to light after they responded to a request sent out earlier this month by the Russian Economy Ministry for domestic and overseas financial institutions to pitch for advisory roles in the planned sales of a 50.08% stake in oil firm Bashneft and 10.9% stakes each in the Alrosa diamond mining company and the VTB bank.
Several bankers had previously told Reuters that Western investment banks with Russian operations were reluctant to advise Moscow on planned privatisations as they were worried about the consequences of violating Western sanctions imposed on Russia over the conflict in Ukraine.

Source: reuters