Invitation for Bids

Government of the Republic of Moldova
Privatization of the Banca de Economii

1. The Government of the Republic of Moldova, in its position as majority shareholder, is seeking to bring to market Banca de Economii. To this end, the Government intention is to privatize its share in the Banca de Economii to a strategic investor as a mean of strengthening the management of the bank, bringing new capital to the market and increasing competition in the banking system of the Republic of Moldova.

2. For this purpose, the Government of the Republic of Moldova intends to hire a Financial Advisor, which is expected to assist the authorities in preparing and undertaking the necessary steps for privatizing Banca de Economii. The Republic of Moldova intends to apply a portion of the privatization proceeds towards payment of retainer fees under the contract for Consulting Services for a Financial Advisor.

3. Banca de Economii is one of the largest and most important financial institutions in the country. As of December 31, 2007 it is ranked 4th in the Moldovan banking system by assets’ size and 3rd by shareholders’ capital. The Bank’s network consists of 37 branches and 431 offices throughout the country. The number of employees is 2,367.

4. A Tender Committee is being established to invite eligible bidders, provide detailed bidding documentation, collect sealed bids and announce a winner. Reputable consulting firms/investment banks with a proven record of experience in providing privatization advice shall be considered as eligible bidders. The tender will be conducted in accordance with international practices and the Moldovan legislation.

5. A complete set of bidding documents in English may be purchased by the interested bidders upon submission of a written application to the address below and payment of a nonrefundable fee of 100 Euros via bank transfer in favor of the Ministry of Finance to the following account:

Beneficiary: Ministry of Finance of RM Central Treasury
Account with institution: 326159784
Beneficiary Bank: National Bank of Moldova
SWIFT: NBMDMD2X
Correspondent Bank of the NBM:
DE NEDERLANDSCHE BANK N.V.,
P.O.BOX 98 1000 AB AMSTERDAM THE NETHERLANDS WESTEINDE 1
ACCOUNT NO: 060.01.26.226 (EUR),
SWIFT: FLOR NL 2A, BW-MOLDOV (custody)

Electronic copies of the bidding documents will also be available by e-mail.

6. Bids must be submitted to the address below at or before 12:00 on June 30th, 2008. Late bids will be rejected. Bids will be opened in the presence of the Bidders' representatives who choose to attend at the address below at 12:00 hours on June 30th, 2008.


Agency for Public Property
Ministry of Economy and Trade
1, Piata Marii Adunari Nationale, Chisinau, MD-2033
Republic of Moldova
Telephone number: +373 22 23 43 50
Web: www.app.gov.md 
Email address: grigoriev@app.gov.md