# Commission Decision (EU) 2015/162 of 9 July 2014 on the State aid SA.36612 (2014/C) (ex 2013/NN) implemented by Latvia for Parex (notified under document C(2014) 4550) (Only the English text is authentic) (Text with EEA relevance), Division (2)

Extent: E+W+S+N.I.

The Latvian Authorities and Citadele also commit that a divestiture trustee will be appointed if, by […], no binding bids have been received or, in case of an IPO, having the same objective, no prospectus has been agreed with the FCMC. In such case the Republic of Latvia will take the necessary steps so as to ensure that the divestiture trustee is appointed and is operational as of […]. It is understood that the financial advisor for the sale of Citadele could also be appointed as divestiture trustee as of […]. If a divestiture trustee is appointed, the Latvian Authorities and Citadele commit to receive binding and irrevocable for all parties bids by […]and enter into a binding and irrevocable agreement for the sale of the full stake of the Republic of Latvia in Citadele by […], to be closed by […] at the latest.

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Source: https://www.legislation.gov.uk/eudn/2015/162/annex/II/division/2 (the official version)
Page: https://openlegislation.uk/eu-decision-2015-162/annex-II/division-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.