SLSP privatisation contract published

THE FINANCE Ministry published a part of the deal under which Slovakia's largest retail bank, Slovenská sporiteľňa (SLSP), was privatised to Austria's Erste Bank in 2000.

The ministry has been under political pressure to publish the agreement with Erste Bank, the state-run news agency TASR wrote.

According to the contract published September 16 the ministry agreed to ensure that SLSP's commercial activities and business methods would not be subject to any unusual changes in the time between the signing of the contract and completion of the transaction.

The agreement also pledged that SLSP would not pay dividends or change its statutes during this period.

Erste Bank promised to keep, either directly or indirectly, a stake of at least 50 percent in SLSP for not less than five years.

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