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Sovereign Wealth Funds Briefing - Categorized | Financials

Oman Fund Working To Rescue Bulgaria’s Corpbank

Posted on 22 July 2014

The Omani sovereign wealth fund is potentially a key player in Bulgaria’s banking crisis because it owns 30 per cent of Corpbank, which it bought in 2009. Bulgarian Finance Minister Petar Chobanov spoke to the head of Oman’s State General Reserve Fund (SGRF) last week about the prospect of it helping out after a planned state bailout of the bank ran into opposition in Bulgaria’s parliament.
“The Bulgarians have agreed to work with the shareholders to provide a feasible working plan within a time frame of three months, as a substitute for the nationalisation option,” the source said, declining to be named under briefing rules………………………………………..Full Article: Source


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