Ukraine forms commission to sell state stakes in Sense Bank and Ukrgasbank

Ukraine's government has formed a commission to oversee the sale of state shareholdings in Sense Bank and Ukrgasbank, Prime Minister Serhiy Koretsky said.

The commission will set tender procedures, decide which prospective buyers may participate and agree the starting and final sale prices. Its decisions must be submitted to the government for approval.

Representatives of international financial organizations and European Union institutions may join its work. TSN reported that the Finance Ministry had already selected advisers to prepare the bank sales.

Sense Bank, formerly known as Alfa-Bank, is state-owned. The state holds more than 90% of Ukrgasbank's capital.

Koretsky had previously said proceeds from selling Sense Bank were intended to support Ukraine's armed forces.