In accordance with the presidential decree of December 28, the controlling stake in Asia Alliance Bank will be sold to Japanese Sawada Holdings.

The State Assets Management Agency is recognized as the responsible authority for the implementation of the project. Preparing the draft stake sale document is expected to take place in April, and the sale itself is scheduled for May.

Reportedly, the transaction price is $32 million.

It should be reminded that the bank was nationalized in the fall of 2018, but last October the State Assets Management Agency announced that the bank is ready for privatization again.