Sayenko Kharenko advises Getin Holding S.A. on the sale of Idea Bank Belarus to Belarusian MTBank

Sayenko Kharenko has acted as lead legal counsel to Getin Holding S.A., one of the biggest privately owned Polish financial groups headquartered in Wroclaw, in relation to the sale of 99,999 per cent stake in Idea Bank Belarus to MTBank, Belarusian commercial bank, providing a full range of services to corporate and private clients in the Republic of Belarus.

Idea Bank Belarus was established in 2004 under the name JSC “Sombelbank”. In 2008 Getin Holding S.A. acquired JSC “Sombelbank” via its subsidiary Getin International S.A. Currently Idea Bank Belarus operates all over Belarus and continuously ranks high in Belarussian bank rankings.

Sayenko Kharenko provided full-scope legal support of the transaction for the seller, including drafting and negotiating transaction documents, deal implementation, pre-closing, and closing assistance.

“I was happy to work with Sayenko Kharenko on this transaction in this difficult pandemic times, in multiple jurisdictions. Sayenko Kharenko did excellent work helping us with successful completion of this project”, – comments Mr. Krzysztof Jarosław Bielecki, the I Vice-President of the Management Board of Getin Holding S.A.

Partner Alina Plyushch comments: “It is not our first time working with Getin Holding, in 2019 our team assisted during the execution of the sale purchase agreement in relation to Idea Bank Ukraine, and we are honored to continue our cooperation with Getin Holding on their projects involving other jurisdictions. This transaction is unusual for Ukrainian legal market as Ukrainian law firm has been engaged as a lead counsel to coordinate the transaction in the other country.”

Getin Holding S.A. is listed on the Warsaw Stock Exchange (sWIG80 Index). It is one of the few Polish financial groups, operating on international markets via its subsidiaries. Getin Holding S.A. focuses on investment activity seeking out and implementing projects both in Poland and abroad, particularly in the Eastern and South European markets, where it controls two banks and one leasing company. The group operates in the broadly understood financial market – in banking, financial intermediation, insurance and leasing sectors.

MTBank is a fast-growing Belarusian bank with 106 branches located all over the country. It was established in 1994 and became the first Belarusian bank with the participation of foreign investors. MTBank provides full-scale services to both private individuals and business entities, as well as participates in important social initiatives in the territory of the country. It is the first Belarusian bank to join United Nations Global Compact, the United Nations initiative to encourage businesses worldwide to adopt sustainable and socially responsible policies.

Sayenko Kharenko’s corporate and M&A practice team working on the project was led by senior associate Dmitriy Riabikin, supported by associate Yaroslava Chernyshchuk. Partner Alina Plyushch supervised the project.


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