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