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22 February 2012

Sayenko Kharenko – legal counsel on sale of Bank Vostok

Sayenko Kharenko acted as a Ukrainian legal counsel to Platinum Bank on sale of PJSC "Bank Vostok" (former "Home Credit Bank" (Ukraine), based in Dnepropetrovsk.

Platinum Bank held a bidding for the sale of the unrestricted banking license of PJSC "Bank Vostok" with all permissions. The license includes foreign exchange transactions, securities trading (brokerage, custodian of securities, etc.).

PJSC "Bank Vostok" was acquired by Ukrainian group of individuals and legal entities.

Earlier this year Sayenko Kharenko advised Platinum Bank on acquisition of PJSC "Bank Vostok" (former "Home Credit Bank" (Ukraine) from Home Credit B.V. Home Credit’s Ukrainian operations were incorporated into Platinum Bank, all retail services were provided under the brand of Platinum Bank while the Home Credit brand withdrew from the Ukrainian market.

Sayenko Kharenko has outstanding expertise in advising on cross-border M&A deals in the banking sector. In the past 5 years Sayenko Kharenko advised on a number of high-profile transactions involving the sale and acquisition of Ukraine’s largest banks, including advising: on the merger of Alpha Bank with Eurobank (M&A Deal of the Year (nominated) by IFLR European Awards 2012); First Ukrainian International Bank (SCM Group) on acquisition of 100% of Renaissance Capital Bank; Commerzbank on acquisition of Bank Forum; Alpha Bank on acquisition of Astra Bank; Piraeus Bank on acquisition of International Commerce Bank; KIT Finance Investment Bank on acquisition of Radabank.

Sayenko Kharenko team for this transaction was led by partner Vladimir Sayenko and included counsel Dmytro Korbut and associate Julia Gubareva.

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