Erste Group Finalizes Selling Of Ukrainian Subsidiary

Business › n.a. ♦ Published: April 30, 2013; 12:46 ♦ (Vindobona)

Erste Group finalizes the sale of Erste Bank Ukraine.

Erste Group Finalizes Selling Of Ukrainian Subsidiary / Picture: © Erste Group / Christian Wind

Erste Group Bank AG ("Erste Group") completed the sale of 100% of its Ukrainian subsidiary ("Erste Bank Ukraine"), to the owners of PUJSC FIDOBANK ("FIDOBANK"), a group of companies ultimately controlled by Ukrainian banker Oleksandr Adarich. As previously announced in December 2012, the cash consideration amounted to USD 83 million (approx. EUR 63 million). This transaction is…

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