Russian Sberbank announced the sale of 100% of shares of Ukrainian “daughter”
Russian Sberbank announced the sale of all shares of the Ukrainian subsidiary Bank.
This is stated in the statement of the financial institution.
Ukrainian “Sberbank” buying a consortium of investors, which will include the Latvian Norvik Banka and Belarusian private company. The agreement was signed on Monday, March 27.
The closing of the transaction is expected in the first half of 2017, as soon as financial and antitrust regulators, including Ukraine and Latvia, will approve this deal.
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“Sberbank of Russia JSC (Ukraine) has the necessary means to fulfill obligations to private and corporate clients. I hope that the decision on the sale of our subsidiary Bank will help to unlock its offices and resume normal operation which will enable Bank customers to continue to freely use the services of one of the most stable and efficient banks in Ukraine and will provide the basis for its further development,” said Sberbank.