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26 May 2010

Sayenko Kharenko advised Commerzbank Group on obtaining preliminary AMC conclusions on acquisition of additional voting shares of Bank Forum

Sayenko Kharenko antitrust team has provided legal assistance in obtaining the preliminary conclusions of the Antimonopoly Committee of Ukraine (the “AMC”) on the need to obtain the AMC’s approval for the acquisition by Commerzbank Group of the additional 26.25 % of votes in the highest management body of Public Joint Stock Company “Bank Forum” (“Forum”).The acquisition significantly strengthens Commerzbank Group position in Central and Eastern Europe. Bank Forum, which has total assets equivalent to EUR 1.9 billion and equity capital of some EUR 180 million, is one of the leading banks in Ukraine.The Commerzbank Group is headquartered in Frankfurt-am-Main, Germany. The Commerzbank Group is a banking and financial group active globally, which provides a wide range of financial services to individuals and undertakings, as well as large multinational companies all over the world.Forum offers a wide range of banking services to individuals and legal entities through more than 250 branches and outlets all over Ukraine.The merger clearance procedure was effectively handled by Sayenko Kharenko competition team including counsel Dmitry Taranyk and associate Maksym Nazarenko, supervised by partner Vladimir Sayenko.

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