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AMCU Approves the deal between ABH Holdings S.A. (ABHH) and UniCredit Group (UCG)

September 08, 2016. TAG: Financial Services

The Antimonopoly Committee of Ukraine (AMCU) has consented to the closing of the deal between ABH Holdings S.A. (ABHH) and UniCredit Group (UCG). The press service of the Committee published this information on its official website on Thursday, September 8, 2016.

“We have worked this grandiose way up to the closing of the deal which was announced by the shareholders of Alfa-Group and UniCredit Group yet at the beginning of the year. We expect the deal to be closed by the end of this year, with the appropriate resolution of the National Bank of Ukraine being obtained. And we are confident that the outstanding professionalism and extensive experience of our teams, our strong position in the financial market, the continuous support of our shareholders representing already two international banking groups, and, which is most important, the trust of our customers – all these factors create a powerful platform for further development of one of the leading banks in the country. We are making all effort for the purpose of contributing to the development of the national economy and the financial well-being of our customers,” noted Rushan Hvesyuk, the Chief Executive Officer of Alfa-Bank (Ukraine).

“Approval of this deal by the Antimonopoly Committee of Ukraine is a consistent and logical step of the regulator, which will promote market consolidation and appearance of a new strong player in the financial sector”, noted Tamara Savoshchenko, the Chief Executive Officer of UniCredit Bank. “This deal will not only help our bank to win in the marketplace and offer the clients even more favourable solutions, but also have a positive impact on the business development in Ukraine.”

In January this year, investment holding company ABH Holdings S.A., which indirectly owns 100 % of shares in Alfa-Bank Ukraine, and UniCredit Group announced that they had signed an agreement under which UniCredit Group had transferred 100 % of shares in Public Joint Stock Company Ukrsotsbank to holding company ABH Holdings S.A. in exchange for a minority 9.9% stake in ABHH.

ABH Holdings S.A.

ABH Holdings S.A. (ABHH) is a privately owned Luxembourg-based holding company investing into several banking groups in the CIS and Europe. ABHH includes Alfa-Bank (Russia), Alfa-Bank (Ukraine), Ukrsotsbank (Ukraine), Alfa-Bank (Belarus), Alfa-Bank (Kazakhstan) and Amsterdam Trade Bank N.V. You can find more information on ABH Holdings S.A.'s website