October 22, 2019

On the website of the Warsaw Stock Exchange, Polish Getin Holding S. A. announced the sale of its Ukrainian assets.

According to the signed Letter of Intent, a private equity fund plans to buy from the issuer up to 100% stake in Idea Bank, with headquarters in Lviv and up to 100% of the shares of Kiev New Finance Service LLC.

The foundation received the right to conduct company research as well as legal expertise within 6 weeks. In case of a positive result, the participants will proceed to consider the terms of the transaction - the size of the block of shares and the share of the transaction.

Until January 01, 2020, the Fund has the right to negotiate the sale of Idea Bank and New Finance Service. The closing date for the sale of the Ukrainian share of the company is set for the first quarter of 2020.

The name of the investment fund remains confidential.

Note that the Letter of Intent does not oblige the parties to complete the purchase transaction. AMCU has not yet received applications for the acquisition of Idea Bank. At the same time, on the Warsaw Stock Exchange, shares of the holding jumped 14.5% to PLN 1.39.

Idea Bank (Plus Bank) is a subsidiary bank of the Polish financial group Getin Holding S.A., founded in 1989. Idea Bank (formerly Plus Bank) was founded in 1989. Its sole shareholder is the financial group Getin Holding S.A. As of July 1, 2019, the bank ranked 25th in terms of assets - UAH 7.01 bln. As of October 01, 2019, regulatory capital amounted to UAH 877.5 mln.

The beneficiary of Getin Holding S. A. is a citizen of Malta and Poland Leszek Czarnecki. Besides Ukrainian and Polish companies, the holding has subsidiary banks in Russia, Belarus and Romania.

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