the Government introduced a bill to purchase the Bank of Russia stake in Sberbank.
the Draft law No. 901908-7 “the acquisition Of the government of the Russian Federation Central Bank of the Russian Federation public joint stock company “Sberbank of Russia” and a recognition become invalid for separate provisions of legislative acts of the Russian Federation” is available in the electronic database of the state Duma.
shares of the savings Bank will release the money from the national welfare Fund (NWF). “The placement of NWF shares of PJSC “Sberbank of Russia” consistent with the objectives of management of the national welfare Fund — to ensure the safety of invested funds and stable level of income from their placement,” reads the explanatory note to the bill.
Expected dividend yield in 2019 will exceed 9%, which exceeds the cost of borrowing on the sovereign bond market.
Ordinary shares of Sberbank buys on market conditions at the weighted average price of these shares over the last six months preceding the month in which concluded the first contract of sale.
the Bill provides a number of exceptions to the provisions of the law on joint-stock companies. So, for the sale of shares of the savings Bank not required Bank guarantee, the resolution of FAS, and an offer to the minorities will put the seller (CB), not the customer (the Ministry of Finance).
According to the bill, of the shares purchased by the Central Bank on the basis of the mandatory offer, must be disposed of no later than 31 December 2022 Schedule of sale of shares in the bill is not defined.
CBA has a 50% + one share of the Charter capital of Sberbank (52.3% of ordinary shares). In 2018, the savings Bank has paid dividends in the amount of 361,4 billion rubles, the share of the Central Bank had 180,7 billion rubles.