One more drop of suspicion in the cup regarding the backstage of the sale process of Citadele Bank is added with the government’s decision to provide exclusive advantages to one specific potential buyer – American Ripplewood Holdings.
The member of the government who was especially active in supporting this party was neither the Finance Minister nor the Economy Minister. It was Agriculture Minister Janis Duklavs from the Union of Greens and Farmers, according to information from Pietiek portal. Duklavs does not deny this fact as well.
On July 29th, the Latvian government reviewed Economy Minister Vyacheslav Dombrovskis’ question regarding the sale of Citadele Bank. The meeting was held behind closed doors.
Unofficial information soon surfaced that it has been allegedly decided to provide exclusive rights to a specific potential buyer – American Ripplewood Holdings. Sources claim Agriculture Minister Janis Duklavs was especially active in these discussions. It was allegedly his position that ultimately convinced the government to make this step.
Providing exclusive rights to a single buyer in order to continue talks is an unusual practice from the government. Up until now ministers have avoided taking sides. Instead, it has been a common practice to invite sales consultants to do calculations and provide insight on such decisions. One such example is the case of Liepājas metalurgs.
Duklavs does not deny the fact that he voiced his position in the matter of selling Citadele Bank in favour of Ripplewood. Latvian Agriculture Minister claims that he had chosen a side even before the government revealed identities of the potential buyers. He said he would support the buyer who would promise to support farmers after acquiring the bank. Such a promise was voiced by Ripplewood during the July 29th meeting.
What is uncertain in this matter is why the one who is active the most in this matter is the Agriculture Minister and who suggested his position in the matter regarding the sale of Citadele Bank. Duklavs claims he has not discussed this matter with anyone outside of the closed government meeting, including none of the more active lobbyists. If so, Ripplewood’s private consultant Callidus Capital (owned by ex-banker Valdis Siksnis and Druvis Murmanis) took on the most important factor in Duklavs’ position (on crediting farmers) on their own.
Duklavs admits he has regular meetings with the owner of Baltic International Bank Valery Belokon. He claims, however, he has never discussed the matter of Citadele Bank with him.
Considering Duklavs’ membership in UGF, one might ask the question if by supporting Ripplewood, Duklavs also supported the position of UGF’s partner Aivars Lembergs. According to information acquired from Lembergs’ representatives outside of politics, Duklavs’ position came as a surprise to them.
Ref: 102.109.109.5782
