17 July 2015

AgroHoldings (Ukraine) Limited, a subsidiary of the American investment fund managed by NCH Capital bought 100% of shares of Astra Bank at an open competition, the press-service of the Deposit Guarantee Fund (DGF) informs.

On July 12, the authorized person of the DGF signed a sales agreement for 100% of shares of the bank. "The costs from the sale of 100% of shares of PJSC Astra Bank in the amount of UAH 92.1 mln replenished financial resources of the DGF, which will help strengthen its financial stability and, correspondingly, save budget funds. Moreover, the buyer reimbursed the expenses incurred by the Fund for maintaining temporary administration in the bank" - the statement says.

According to the terms of the agreement with the DGF, the investor undertakes to finish capitalisation of Astra Bank for UAH 120 mln within one month.

The Law Firm Aequo acted as a legal advisor of NCH CAPITAL (USA) in the course of purchasing the insolvent bank from DGF.

AgroHoldings (Ukraine) Limited is a subsidiary of the investment fund managed by NCH Capital (USA), whose the key area of activity is financing Ukrainian agricultural producers.

According to the National Bank of Ukraine, as of January 1, 2015, the amount of its total assets (UAH 170.595 mln) ranked Astra Bank 151st among 158 banks operating in the country.