Silverbank Sale Set to be Finalized, 2 buyers Interested

The future of Silverbank appears to be gaining momentum as the Bank of Mauritius is reportedly considering two serious potential buyers for the troubled bank.

According to banking sources, one of the interested parties is a banking group from the United Arab Emirates, while the other is a conglomerate based in Mauritius.

Silverbank was placed under provisional administration on February 13 following a series of scandals linked to Indian businessman Prateek Gupta, whose wife is said to be a shareholder in the bank.

Gupta’s attempts to have a global freeze order on his personal and professional assets lifted by a London court in connection to the Trafigura case were unsuccessful on December 15.

In response to the controversy, the Mauritian government swiftly pulled out its investments in the bank.

The sale of Silverbank is expected to be finalized by the end of April.

Source: Le Mauricien