New board swept in at Privatization Agency

At an extraordinary meeting of its shareholders Monday the Privatization Agency (PA) hastily appointed a new board to replace the vacancies left by the surprise resignation of its previous one, which derailed the closing of the much anticipated Citadele sell-off agreement with the Ripplewood Advisors investor group Friday.

The appointments of new board chair Vladimirs Loginovs and board member Ģirts Freibergs made by the Economics Ministry come in a race to get the controversial Citadele deal through under the current coalition government configuration.

The signatures of the current board are a basic formality for sealing the deal which was obviated with brilliant timing last week by its former chairman Ansis Spridzans and co-board member Guntis Lausks as they stepped down the day before the signing.

Whether or not the ink dries by the time the newly installed civil servants charged with signing the paperwork are fully familiarized with the details of the transaction, Dana Reizniece-Ozola, the National Alliance nominee for Economics minister under the next proposed coalition government would then be representing the prime state shareholder and she has indicated that she will also require time to review the document thoroughly before putting her signature down.

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Economy
Economy