Sayenko Kharenko advises shareholders on landmark sale of Bank Lviv to Crédit Agricole Ukraine

Sayenko Kharenko acted as legal counsel to the shareholders of Bank Lviv during the preparation, negotiation and signing of a share purchase agreement for up to 100% of the shares in JSC Bank Lviv in favour of JSC Crédit Agricole Bank (Ukraine). The transaction is expected to close in 2026, subject to obtaining the required regulatory approvals.

Commenting on the deal, partner Alina Plyushch said: “Following the successful sale of Idea Bank in 2025, this deal represents the second full-size M&A deal in Ukraine’s banking sector since Russia’s full-scale invasion. We are proud to advise on both deals and happy to observe that Ukraine’s banking system remains M&A attractive even in wartime.”

Margeir Petursson, Bank Lviv’s investor since 2006, commented: “Sayenko Kharenko did a great job getting us to signing. Their banking sector expertise and attention to detail were essential in navigating a complex negotiation process”.

Bank Lviv is a regional bank serving over 37,000 retail clients and 8,000 SME clients. Its shareholders include companies of Icelandic investor Margeir Petursson, Swiss investment firm responsAbility, the Nordic Environment Finance Corporation, the Dutch Good Growth Fund, and others.

Crédit Agricole Bank (Ukraine) is the longest-established foreign bank in Ukraine, operating in the market since 1993. It is part of France’s Crédit Agricole Group, one of the world’s ten largest financial institutions by assets. In Ukraine, the bank holds a systemically important status and provides a full range of financial services with a focus on retail clients, corporate businesses and the agricultural sector.

The project was handled by a cross-practice Sayenko Kharenko team. The transactional workstream was led by partner Alina Plyushch, supported by counsel Dmytro Riabikin and associates Marian Mokryk, Dmytro Zaiachkivskyi and Vladyslav Novitskyi. Senior associate Tetiana Dyvak advised on regulatory matters. Counsel Kateryna Utiralova and senior associate Ivan Chopyk provided tax support. Overall project leadership was provided by partner Oleksandr Nikolaichyk.