Morgan Stanley makes offer on Parex

  • 2010-04-05
  • Oskars Magone

RIGA - U.S. investment bank Morgan Stanley & Co International has made an official bid on shares in Parex Bank, Latvia's largest homegrown bank.

"A non-binding offer expressing interest has been made, which has been forwarded for evaluation to the consultants on the 'Parex' sale, 'Nomura International'," Privatization Agency spokeswoman Anete Fridensteina-Bridina told business news site "".

After suffering significant financial difficulties, Parex was taken over by the government, which is now seeking to re-privatize the establishment.