12 January 2016
Luxembourg-based holding company ABH Holdings S. A. (owner of Alfa-Bank Ukraine) is in the process of acquiring 100% shares of Ukrsotsbank which belong to UniCredit Group in the structured share swap deal. Alfa-Bank’s press office is the source of this information. UniCredit shall get 9,9% stake in ABH Holdings S.A. with the right to appoint 1 Member in ABHH’s Board as well as the right to take the holding public (initiate ABHH’s IPO).
ABHH’s CEO A Petr Aven states that the transaction will allow ABHH to become one of the key players in Ukrainian banking sector. At the same time, Italian UniCredit believes that Ukrsotsbank’s direct exit will end up being profitable for the Group. Moreover, UniCredit hopes that this deal marks the beginning of the long term and fruitful cooperation with Alfa-Group.
The closing of the transaction is expected in August 2016.
ABH Holding S. A. controls several banking entities internationally – Dutch based Amsterdam Trade Bank in addition to the banks in Ukraine, Russia, Belarus and Kazakhstan.
UniCredit Bank - a joint company formed by the merger of UniCredit Bank and Ukrsotsbank. In December 2013, the integration of the banks has been completed, and the combined bank continues to work under the name of UniCredit Bank.