UniCredit seeks the 'right buyer' for Kazakhstan Unit ATF Bank

ASTANA. December 21. KAZINFORM UniCredit SpA (UCG), the biggest western lender in eastern Europe, would sell its Kazakh lender, ATF Bank, if there is an offer by the "right buyer" and its reputation is not put at risk, a company executive said.
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"We mentioned always that everything depends on the price," the head of UniCredit's eastern European division, Gianni Franco Papa, told journalists in Vienna late yesterday. A sale of the unit, owned by UniCredit's Bank Austria arm, also depends on who would buy it. "We have also a reputation to defend," Papa said. The decision would be made by the Milan- based company's board of directors, he said.

UniCredit Chief Executive Officer Federico Ghizzoni is selling assets in a five-year plan to cut costs and boost profit. Ghizzoni told Bloomberg News in a March 2011 interview that the company would consider selling Almaty-based ATF Bank, Kazinform cites Bloomberg.

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