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27 December 2019

Sayenko Kharenko advised Getin Holding S.A. in course of signing of the agreement on sale of Idea Bank JSC

Sayenko Kharenko has advised Getin Holding S.A. (one of the biggest privately owned Polish financial groups headquartered in Wroclaw and one of the biggest companies listed on the Warsaw Stock Exchange (mWIG40 Index)) on signing of the agreement on sale of 100% shares in Idea Bank JSC to Dragon Capital group of companies, together with a private investor.

Idea Bank was established in 1989 as “Prykarpatlisbank” and was acquired by Getin Holding S.A. in 2007. Currently, Idea Bank is a fast growing financial institution that operates all over Ukraine and is active on the retail banking services market.

Sayenko Kharenko provided legal advice in course of transaction structuring, drafting and negotiating of the transaction agreements and provided full support in course of their execution by the parties.

The completion of the sale of Idea Bank is subject to the approval of the Antimonopoly Committee of Ukraine and the National Bank of Ukraine, as well as on fulfillment of the preliminary conditions of the transaction agreements by the parties and is expected to take place in the first half of 2020.

“We believe that once completed, this transaction will be a notable one in the Ukrainian M&A market as the last sale and purchase of the bank in Ukraine took place more than 3 years ago. The terms of the deal were negotiated in a short period of time in a friendly manner and we are looking forward to a smooth completion. We are grateful to Sayenko Kharenko for their overall assistance at this stage”, – comments Mr. Piotr Kaczmarek, the President of the Management Board of Getin Holding.

Sayenko Kharenko team that advised on the transaction was led by partner Alina Plyushch and included senior associate Dmitriy Riabikin and associates Dmytro Hotsyn and Yaroslava Chernyshchuk.

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