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Bid received for New Kabul Bank shares

Bid received for New Kabul Bank shares

Feb 16, 2013 - 16:03

KABULinfo-icon (PANinfo-icon): The Ministry of Finance on Saturday opened bids for the purchase of shares in New Kabul Bank in the presence of civil societyinfo-icon groups and media representatives.

Following an international marketing effort, five bidders were approved through the Expression of Interest (EoI) stage, a statement from the ministry said.

The bid was received from the Ali Akbar Zhawandai Consortium, involving Afghan investors.

EoIs from four investors -- Forbes and Manhattan, Kru Capital Partners, Afghanistaninfo-icon International Bank and the Amania Group -- were approved. However, they withdrew and did not submit bids.

A team including representatives from the Ministry of Finance, Da Afghanistan Bank (DAB), the Ministry of Justice and New Kabul Bank will evaluate technical bids and business plans.

The price bids -- weighted 70-30 -- will be opened on March 13 and the winner announced, subject to Cabinet approval on April 7.



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