Japanese Bank to advise on privatisation Hungarian power plant

July 16, 1997 Sakura Bank Ltd. will provide financial advice on the privatisation of an power plant in Hungary. Sakura will assist a local bank with capital procurement and operational planning for the project, bank officials said.
This will be the first time that a Japanese bank will serve as financial adviser in Hungary, which has been attracting the services of U.S. and European banks since it joined the Organisation for Economic Cooperation and Development last year.
Sakura will serve as a joint financial adviser with the Central European International Bank (CIB), 34 % of which is owned by the National Bank of Hungary. The plant, which is located outside Budapest and scheduled to begin operating in the year 2000, was privatised in March.