Pravex Bank

January 23, 2014

The group of companies Group DF purchased 100% of the Pravex-Bank shares from Intesa Sanpaolo for EUR 75 million. According to a press release from Intesa Sanpaolo, the direct buyer is Centragas Holding Gmb, which is part of Group DF that combines the assets of Dmitry Firtash.

The Managing Director of Group DF Boris Krasnyanskiy stated that the purchase of Pravex-Bank by the group is consistent with our development strategy of the banking business, which is one of the core businesses for Group DF. With this agreement, the banking business of Group DF will significantly strengthen its position in the retail sector of the banking market.

Pravex-Bank was established in 1992 by Leonid Chernovetskiy. Prior to 2008, Leonid Chernovetsky owned 7.0% of the Pravex-Bank shares directly and 85.14% indirectly. In summer 2008, Pravex-Bank was bought by the Italian group of companies Intesa Sanpaolo for EUR 493 million. According to the NBU, by 10/01/2013 Pravex-Bank ranked 34th (UAH 4.635 billion, 0.4% of total assets) in terms of total assets out of 178 banks in Ukraine.

Dmitry Firtash, the owner of Group DF, in July 2011 concentrated 80.97% of stake in the "Nadra" bank. Almost 9% of the "Nadra" bank belong to his business partner Ivan Fursin.

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