AEQUO acted as a legal advisor to Dragon Capital on the execution of the agreement for acquisition of stake in Idea Bank JSC (Lviv) from the East European financial group Getin Holding S.A. (Poland).
Working closely with the Dragon Capital team, AEQUO provided the client with legal assistance that included legal due diligence of Idea Bank, transaction structuring, preparation and negotiation of the transaction documents, as well as legal advice on the agreement execution procedures.
Idea Bank JSC has been operating in the Ukrainian market since 1989. The bank’s sole shareholder is Getin Holding SA, a financial group which shares are traded on the Warsaw Stock Exchange. The group includes, among others, banks from Poland, Romania and Belarus.
The acquisition will be completed after receipt of the approvals of the Antimonopoly Committee of Ukraine and the National Bank of Ukraine, as well as after the conditions precedent to closing will be fulfilled by the parties. The transfer of shares of Idea Bank JSC is expected to be carried out before May 31, 2020.
“We are grateful to Dragon Capital for the unique opportunity to become a part of such landmark acquisition of the bank, which for the last time occurred on the Ukrainian market in 2016. AEQUO is pleased to cooperate with Dragon Capital in the process of this landmark acquisition, which demonstrates a positive trend of the return of interest to the Ukrainian banking market and the banking business as a whole”, — comments partner Yulia Kyrpa.