December 20, 2019
Polish Getin Holding S.A. concluded an agreement with a group of companies Dragon Capital. According to it, 100% of the shares of the Ukrainian Idea Bank will be sold for almost UAH 1.4 bln.
The Polish holding completely gets rid of the shares of Idea Bank (Lviv) and LLC New Financial Service (Kiev).
Buyers are an individual (most likely Tomas Fial, Dragon Capital Investments Limited (Nicosia, Cyprus), broker Dragon Capital LLC (Kiev) and Dragon Capital New Ukraine LP fund (St. Gelery, Jersey).
For all assets, the Poles will receive UAH 1.388 bln, which is 1.6 part of the capital. From January 1, 2020 until the close of the transaction, they will also receive dividends in the amount of UAH 200 mln.
To complete the transaction, they need permission from the NBU and the AMCU, as well as the Ukrainian Idea Bank should to fulfill its obligations to the Polish Idea Bank ahead of schedule.
According to Getin Holding S.A. the transfer of the share will be completed by May 31, 2020.
The contract provides for the likelihood of its termination. In this case, the penalties will amount to UAH 5.5 mln.
The contract is governed by English law.
Dragon Capital is an Ukrainian group of companies owned by Tomas Fiala. Since 2001, it has been engaged in direct investment and financial services - brokerage services, asset management, investment banking support.
Idea Bank is a subsidiary of the Polish Getin Holding S.A. Initially, the Bank "Prykarpattya", which the holding bought and renamed in 2007. Assets of July 1, 2019 amounted to UAH 7.01 bln (25th place in the rating of Ukrainian banks). As of 01.10.2019, regulatory capital totaled UAH 877.5 mln.