Sayenko Kharenko advises BPCE on acquisition of majority stake in Oney Bank SA and creation of joint venture with Auchan Group
Sayenko Kharenko acts as Ukrainian legal counsel to Groupe BPCE (BPCE), the second largest banking group in France and the fourth largest banking group in the Eurozone, with respect to the establishment of a long-term partnership with Auchan Holding (Auchan) through the acquisition of a controlling stake in Oney Bank SA (the Transaction).
The Transaction will give BPCE the means to initiate its development in European retail-focused digital banking and consumer finance under the brand name “Oney”. Meanwhile, Oney Bank SA (Oney Bank) will accelerate its growth by leveraging BPCE’s expertise, particularly in the payments area. A majority stake will allow BPCE to set the tone for the overall strategy of Oney Bank’s business.
Sayenko Kharenko’s involvement in this Transaction included performing full-scope legal due diligence of LLC “Oney Ukraine”, a Ukrainian subsidiary of Oney Bank, advising on corporate and contractual law matters, as well as structuring the Ukrainian part of the Transaction.
BPCE is the second largest banking group in France with over 105,000 employees and more than 30 million customers, 9 million of whom have become BPCE’s cooperative shareholders. The Group’s different subsidiaries pursue their activities in banking and insurance, tailoring their services as closely as possible to the needs of the individuals and regions they serve.
Oney Bank is an international bank specialising in payment solutions, financing, digital identification and insurance. As a major player in online split payment and digital identification in Europe, Oney Bank operates in 11 countries and currently counts 3,000 staff, 7.6 million customers and 400 merchant and e-merchant partners.
The Sayenko Kharenko team was led by counsel Dmytro Korbut with support from associates Ilhar Hakhramanov, Oksana Daskaliuk, Mykola Lykhoglyad, and junior associate Angelina Danyleiko under the supervision of partner Oleksandr Nikolaichyk.
