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24 February 2011

Sayenko Kharenko advised on acquisition of Home Credit Bank (Ukraine)

Sayenko Kharenko acted as a Ukrainian legal counsel to Platinum Bank on acquisition of PJSC “Home Credit Bank” (Ukraine), based in Dnepropetrovsk, from Home Credit B.V.

Through this transaction Platinum Bank continues to pursue the development of its retail and SME businesses in Ukraine. After a process of integration Home Credit’s Ukrainian operations will be incorporated into Platinum Bank, all retail services will be provided under the brand of Platinum Bank while the Home Credit brand will withdraw from the Ukrainian market.

This acquisition will provide Platinum Bank with significant synergies and will accelerate its growth in Ukraine. It will also consolidate bank’s position in the market, benefiting both shareholders and customers.

Sayenko Kharenko's scope of work also included due diligence of IP assets and license agreements of the target company.

Platinum Bank – is a specialized retail bank, which since 2005 has been offering deposit and loan products for individuals through a network of branches and points of sale across Ukraine.

Sayenko Kharenko team for this transaction was led by partner Vladimir Sayenko and included counsel Dmytro Korbut and lawyer Serhiy Kazmirchuk.

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